Anil Ambani Group company Reliance Life Insurance on Wednesday launched a unit-linked insurance plan that will provide policyholders the benefits of regular savings with enhanced protection and market-linked returns.
A personal hearing was given to M/s Reliance Life Insurance Company on July 28, 2010. Sri Malay Ghosh, President and his team were present. On behalf of IRDA, Sri G. Prabhakara, Member (Life), Sri A Giridhar, ED (Admn), Sri Kunnel Prem, CSO (Life) and Sri Satish Hegde, OSD were present.
Reliance Life Insurance, a part of Anil Dhirubhai Ambani group, is targeting a new premium income of Rs 12,000 crore in 5-year, a top company official said. “We are growing 20 percent each year. We intend to earn a premium income of Rs 12,000 crore in 5-year time,” president and executive director of Reliance Life Malay Ghosh said.
Life insurance majors like SBI Life Insurance, HDFC Standard Life, Reliance Life and ICICI Prudential may be able to launch initial public offers in the current fiscal itself as the insurance regulator IRDA and capital market regulator SEBI, fresh out of a turf war, have resumed the process for listing these companies. The necessary guidelines are under preparation.