Reliance Capital’s 100% subsidiary - Reliance General Insurance Company (RGI) has received an approval to independently list the company on the stock exchanges. The board of directors of RGI at its meeting approved for the same.
The independent listing of RGI is expected to unlock substantial value for all stakeholders. Listing of RGI is expected to be completed by FY18, subject to necessary shareholders, regulatory and other approvals.
RGI provides a wide range of general insurance products like fire, motor, health, home, crop, travel etc. The company outperformed industry growth rate of 30% and grew by 40% in FY17. RGI’s gross written premium stood at Rs 4,007 crore registering a growth of 40% as on March 31, 2017.
