Reliance General Insurance reports net profit of Rs. 160mn in December quarter

Private sector non-life insurer Reliance General Insurance has reported a net profit of Rs. 160 million for the quarter ended December 31, 2012, against a loss of Rs. 340 million in the year-ago period.

In the same period, Reliance General saw its gross written premium increased 21% to Rs. 5.03 billion, its parent firm Reliance Capital said, while announcing its quarterly results. The company has a distribution network of 126 branches and over 9,900 agents and a private sector market share of 7%, in terms of gross written premium, of the Indian private sector general insurance industry.

Reliance General, which offers auto, health, property, travel, marine and commercial insurance products among others, is a part of Anil Ambani-led Reliance Group’s financial services arm Reliance Capital Ltd.

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