Listing of RGI is expected to be completed in FY18, subject to necessary approvals.
RGI provides a wide range of general insurance products like fire, motor, health, home, crop, travel etc. The company has a diversified distribution network including corporate agents and bancassurance partners, amongst others.
The company outperformed the industry growth rate of 30%, and reported 41% growth in FY17. RGI’s gross direct premium stood at Rs 3,935 crore in FY17. Profit Before Tax stood at Rs 130 crore, up 32%, while the investment book stood at Rs 6,724 crore, up 25% for FY17.
RGI is an active participant in various government crop Insurance schemes, including the Pradhan Mantri Fasal Bima Yojna. In FY17, the company insured over 3 million farmers under this financial inclusion initiative.
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