Reliance General profit rises 27% to Rs165 crore in FY18

Reliance General has a 7.7% market share in the private sector.

New Delhi: Reliance General Insurance has reported a net profit of Rs165 crore in 2017-18, up 27% from a year earlier.

The gross premium written by the company increased by 28% to Rs5,122 crore, a company statement said on Friday. RGI, a Reliance Capital firm, said its online channel registered an increase of 40% in gross premium collected during the year. The company has a 7.7% market share in the private sector.

“We continue our growth momentum with rise in premium, along with improvement in bottom line. We grew at approximately 17% in gross direct premium in 2017-18,” said Rakesh Jain, ED&CEO, Reliance General Insurance.

The company offers insurance for motor, health, home, property, travel, marine and other speciality products. Spread across 128 branch locations, the company’s agent network stood at 27,888 as of 31 March 2018.