Reliance Life Insurance on progress path

Lucknow, Sep 18 (UNI) Reliance Life Insurance, one of the fastest growing private life insurance companies in the country, tody claimed that its premium income has grown a whopping 152 per cent during April-July last as compared to the overall life insurance industry's growth of only 1.6 per cent during the same period.

Reliance Life Insurance Chief Operating Officer (CEO) P Nandagopal told mediapersons here that the company has received Rs 1,112 crore premium income from new policy slated by the end of August this year, which was 136 per cent higher than what it had recorded in the same period a year ago.

''If things go as planned, we would continue to grow above the industry's growth and drive our business forward on the back of novel insurance products and improved customer services,'' he said.

Mr Nandagopal said the company plans to infuse fresh capital of Rs 1,000-1,200 crore in the next six months, thus increasing the capital base to Rs 3,000 crore.

At present; the company has 750 branches and over two lakh insurance advisors across the country with two million policies, he said.

According to the company officials, out of the total business of Rs 2,751 crore done till the end of 2007-08, UP had the contribution of Rs 240 crores.

UNI MB JAS SBA KP1809