Reliance Life Insurance Company (RLIC) is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry. The company has over 7 million policy holders with a strong distribution network of close to 1,230 branches with over 124,000 agents as of March 31, 2013. Reliance Life offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans.
As of March 31, 2013, the Total Premium (net of re-insurance) was Rs. 4,015 crores, whereas new business premium stood at Rs. 1,377 crores. The company achieved a profit of Rs. 380 crores. The company sold 7.6 lakh policies during 2012–13 with total managed funds valuing to Rs. 18,189 crores, through a wide network of distribution with 1,230 offices and over 1,24,000 advisors.
Rated amongst the Top 3 Most Trusted Service Brands in the Insurance Category, the company aims to emerge as a transnational life insurer of global scale and standards.
Reliance Life Insurance is a part of Reliance Capital of the Reliance Anil Dhirubhai Ambani Group. Nippon Life Insurance Company acquired 26% interest in equity share capital of the Company effective October 7, 2011 subsequent to receipt of all regulatory approval.