Mr. Anup Rau, Chief Executive Officer of Reliance Life Insurance Company announced the launch of a family floater plan, “Reliance Life Care for You Advantage Plan”, which provides overall exposure for expenses incurred towards hospitalization and critical illness for a entire family in a single policy. This plan aims at meeting the changing health care needs and expenses of the customers.

The salient feature of this plan is as under:

• Premium amount to remain fix for a period of three...  Read More »

Reliance Life Insurance introduced a new plan – Reliance Life Insurance Super Endowment Plan, wherein the premium paying term will half of the selected policy period and the life insurance coverage will be for the entire period of the policy. Policyholders will be entitled for guaranteed maturity payback at the end of the policy term thereby giving financial independence to the customer.

Besides these benefits, the endowment plan also provides liquidity to the customer with a loan facility to...  Read More »

Reliance Life Insurance, one of India’s leading private life insurance company shared its plans to launch a new pension insurance plan sometime in October 2012. Reliance Life is in the process of obtaining the approval for this product from IRDA.

Earlier IRDA had issued guidelines stating that life insurance companies have to offer a guaranteed return of 4.5 percent due to which almost all the life insurance companies were pondering whether or not to offer a pension product. But after the...  Read More »

Syndicate Bank plans to venture into the life insurance space and has shortlisted Aviva Life Insurance, Birla Sun Life Insurance and Reliance Life Insurance for this purpose. Apart from these 3 domestic insurance companies, the bank has also shortlisted Avantha Ergo which is a foreign insurer.

“The process is on. We are evaluating both brownfield and greenfield options. What we want is an efficient partnership. We don't want to use our capital to acquire a majority stake,” said a senior...  Read More »

Reliance Life Insurance has announced the induction of Mr. Takeshi Furuichi as a Non executive Director and Nippon nominee on the Board of the company. Reliance Life Insurance, started operations in 2005, after the acquisition of life insurance company AMP Sanmar in 2001.
 

Last month, Reliance Capital announced completion of its 26% stake sale in Reliance Life to Japan’s Nippon Life Insurance. The company has received the entire transaction proceeds of Rs 3,062 crore (USD 680 million) from...  Read More »

Reliance Capital announced completion of the transaction for sale of 26% stake in Reliance Life Insurance Company to Nippon Life Insurance Company.

The completion of this long-awaited foreign direct investment (FDI) deal between Anil Ambani led Reliance Life and Japan-based Nippon Life was announced on Sunday. The company statement said, “The entire transaction proceeds of Rs 3,062 crore ($680 million) from Nippon Life Insurance have duly been received.”

In the month of March, Reliance...  Read More »

Reliance Capital announced that it has received in-principle approval from the Insurance Regulatory and Development Authority (IRDA), for the proposed 26% stake sale of Reliance Life Insurance to the Japanese insurer Nippon Life.

The deal between Reliance Life Insurance Company and Nippon Life Insurance has been pending for quite some time because of the regulatory hurdles. As per agreement between the two, Nippon Life will make a huge investment of Rs 3,062 crores for 26% stakes in the...  Read More »

Reliance Life Insurance has received the government’s approval for selling 26% of its stakes to Nippon Life Insurance.

Anil Dhirubhai Ambani led Reliance Life Insurance Co has been awaiting approval for the largest Foreign Direct Investment (FDI) deal pegged at about Rs 3062 crore (US $ 680 million). Nippon Life Insurance Company is the largest private life insurer in Japan and Asia, and the 6th largest life insurer in the World.

The deal has between the two has been pending since a few...  Read More »

Anil Ambani led Reliance Capital is in talks with private-sector and state-run lenders to sell 23% stakes in their life insurance venture. For selling the stakes in the insurance business, the company is negotiating with Syndicate Bank, Axis Bank and a few others.

Reliance Life Insurance, a part of Reliance Capital, started operations in 2005. The insurer caters to the life insurance needs of customers with a range of products including child plans, traditional plans, unit-linked insurance...  Read More »