Reliance Life's new business up 40% at Rs 1,934 cr in FY14

Reliance Life Insurance saw 40 per cent increase in new business premium at Rs 1,934 crore in 2013-14.

The company had earned new premium income of 1,377 crore in the previous fiscal (2012-13).

It recorded 6 per cent rise in total premium income, comprising new business and renewal premium collections, to Rs 4,283 crore last fiscal, from Rs 4,045 crore in 2012-13.

"The growth has been driven a significant improvement in agent productivity and average ticket size in the last financial year. This led to a profitable growth for the company," Reliance Life Insurance CEO Anup Rau said in a statement.

The average premium size of Reliance Life improved by 49 per cent year-on-year to over Rs 19,000, while its agent productivity grew by 56 per cent in the last financial year, he said.

The company's total funds under management stood at Rs 18,328 crore as on March 31, 2014, as against Rs 18,189 crore in the previous fiscal.

Rau said the company is taking several initiatives ranging from incentive programmes to overall process re-engineering in order to increase its renewals.

"We expect to see positive results in the current fiscal, as stringent checks are being put in place to push the quality of business," he added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi must not exempt listed SMEs from its mandatory disclosure norms

    The Securities and Exchange Board of India (Sebi) has amended clause 49 of the listing agreement, which lays down the obligation of companies toward t

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Skills education can boost industry

India’s manufacturing industry matters a great deal for the economic ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Gautam Gupta

In fashion, why quality must exceed quantity

Every time there’s a fashion week in India, my friends, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture