Reliance Nippon Life expects to achieve double-digit growth in next 5 years

Reliance Nippon Life Insurance has recently said that it anticipates double-digit growth within the next five years. Ashish Vohra, Chief Executive Officer, said, “The recent sluggishness in the premium growth for Reliance Nippon Life Insurance is just a blip and a result of a thought-out strategy.” “We are optimising several levers. We are optimising for sales growth, profitability growth, quality, consistency and for customer retention. In the last 3-4 months, the company has decided to slow down some segments,” Vohra added. “The industry growth rate at this time is above 10 percent. My view is that we will deliver broadly an industry growth rate kind of a premium delivery. I think in the next few years, a sustainable growth rate would be equal to an industry growth rate. My view on industry growth rate is somewhere between 10 percent and 15 percent kind of a number,” he stated.