Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, announced the launch of Career Agency, a new distribution channel aimed at enhancing the company’s reach and footprints across the country. The new sales format offers a fixed stipend structure to prospective advisors, looking at insurance as a long-term professional career, during the training period.

This is a first-of-its-kind distribution channel based on stipend and variable commission pay-out structure by any private insurer in the domestic insurance Industry. Read more

Reliance Life Insurance hires 200 women insurance advisors

Reliance Life Insurance Company (RLIC) today said it has hired around 200 women insurance advisors for its distribution channel and plans to scale up the recruitment in the next few months. This was announced by the company while launching its ‘Face-to-Face’ distribution channel is aimed at servicing customers whose agents have become inactive. Read more

General Insurance: Reliance Capital in talks for stake sale in general insurance arm

Financial services major Reliance Capital group has begun talks to sell 26 per cent equity in its general insurance arm to a foreign partner, and is open to selling further stake in life insurance and mutual fund units. “We are in talks for sale of 26 per cent stake in general insurance business to a foreign strategic partner,” Reliance Capital CEO Sam Ghosh told in an interview. Read more

Reliance Life Insurance net profit soars in Q2

Reliance Life Insurance Company has posted an over three-fold surge in its net profit to Rs 31 crore for the quarter ended  September 30.

The private sector insurer also saw its total funds under management grow by 16 per cent in the second quarter of current  fiscal to Rs 19,417 crore, Reliance Life said in a statement. Read more