Reliance Life's new business premium zooms 100% in Q1 FY14

India Infoline News Service | Mumbai |

The company registered 48% growth in new business (individual) premium at Rs. 2.67 billion in Q1FY14

Reliance Life Insurance Company (RLIC), part of Reliance Capital Ltd, has registered 100% increase in its new business premium at Rs. 5.14 billion during Q1FY14, compared to Rs. 2.51 billion in the corresponding quarter in last fiscal.

The company registered 48% growth in new business (individual) premium at Rs. 2.67 billion in Q1FY14, as against Rs. 1.81 billion registered in Q1FY13, Reliance Life said in a press release on Wednesday.

The total premium grew by 12% to Rs. 9.14 billion in the first quarter, as against Rs. 8.15 billion in the same period last year.

“We continue to focus on traditional products and agent productivity. Our product portfolio has undergone a significant and profitable change, with 80% of business now coming from traditional products, and only 20% from unit-linked products,” Anup Rau, CEO, Reliance Life Insurance, said.

 

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