Reliance General Insurance

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Reliance General Insurance
Private
Industry General Insurance
Founded 17 August 2000
Founder Anil Ambani/Dhirubhai Ambani
Headquarters Mumbai, Maharashtra, India
Key people
Rakesh Jain, CEO
Parent Reliance Capital
Website Reliance General Insurance

Reliance General Insurance is an Indian private insurance company. It is a part of Reliance Group. The Gross Written Premium for the year ended March 31, 2014, was at ₹24.42 billion (US$360 million) with a distribution network composed of over 125 branches and more than 15,500 intermediaries.[1]

History[edit]

Reliance General Insurance was incorporated on 17th August 2000. It received the license to conduct general insurance business in India from the Insurance Regulatory Development Authority of India (IRDAI) on 23rd October 2000. Unlike most insurance companies, who have foreign partners, the firm is promoted solely by Reliance Capital.

Management[edit]

Rakesh Jain serves as the Chief Executive Officer and Executive Director. Before taking this role, he served as the Director – Corporate Centre & CFO at ICICI Lombard GIC Ltd. He has received the 'Best CFO' award in the Financial Services Sector given by the Institute of Chartered Accountants Of India.[2]

Hemant K Jain is the Chief Financial Officer. Arvind Naaz and Amit Ganorkar hold the positions of Chief Marketing Officers for Corporate Business and Retail Sales respectively. Prior to this, Amit Ganorkar was the National Sales Manager for ICICI Lombard. Anand Singhi serves as the Chief Operating Officer.

Services[edit]

Reliance General Insurance offers insurance services across the domains of motor, health, travel and home. The commercial insurance services include commercial vehicle, office and marine.

Motor insurance covers four wheeler, two-wheeler and commercial vehicle. Services such as roadside assistance and cashless facilities through a network of around 2400 garages are provided. Under Health, there are several plans to choose from. They include Healthgain (can be availed in installments), Wellness, Critical Illness and Personal Accident.

In travel, Reliance General Insurance provides plans for overseas trips such as Schengen, Asia and the US. Travel plans tailored for students and senior citizens are also available. The home insurance portfolio covers house contents against theft and damage. The cover also provides home assistance services.[3]

Reliance Capital[edit]

Main article: Reliance Capital

Reliance General Insurance is a subsidiary of Reliance Capital Limited (BSE: 500111, NSE: RELCAPITAL), a diversified financial services holding company promoted by Reliance Group. It is a part of the Reliance Group.[4]

Awards[edit]

Reliance General Insurance was awarded as India's first insurance company to get an ISO 9001:2008 certification for end-to-end services of general insurance product offerings across India. It won the "General Insurance company of the year" award at the The Indian Insurance Awards in 2015. In 2016, the company received ET Best BFSI Brands.[5]

References[edit]

  1. ^ "Reliance General Insurance Profit FY 2014". 6 July 2015. Retrieved 21 March 2017. 
  2. ^ "Company Overview of Reliance General Insurance Company Limited". Bloomberg. Retrieved 21 March 2017. 
  3. ^ "Reliance General Insurance Official Website". Reliance General Insurance. Retrieved 21 March 2017. 
  4. ^ "Company Overview of Reliance Capital Limited.". Bloomberg. Retrieved 21 March 2017. 
  5. ^ "Awards and Recognitions". Reliance General Insurance. Retrieved 21 March 2017. 

External links[edit]

Official Website