Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Reliance Capital to expand Retail Health Insurance Business

Posted On: 2017-03-16 19:04:08

Reliance Capital Limited (RCL), a part of the Anil-Ambani led Reliance Group, today announced plans to separate out its retail Health Insurance business, from its General Insurance business, into a standalone, wholly owned subsidiary.

The Board of Directors of Reliance General Insurance Company Limited (RGIL), a subsidiary of Reliance Capital Limited (RCL), has approved this proposal, subject to necessary IRDA and other approvals.

Reliance Health Insurance Ltd., the proposed new company for Health Insurance business, will be a wholly owned subsidiary of Reliance Capital.

RGIL has a well-established portfolio of health insurance business that offers a comprehensive range of competitive products to consumers. The business recorded Gross Written Premium of Rs 570 crore (US$ 87 million), as of March 31,2016 through its network of over 175 branches across the country.

Health insurance in India has been amongst the fastest growing insurance sectors and is expected to nearly double to nearly Rs 50,000 crore (US$ 8 billion) by 2020.

The proposal will enhance management focus on Health insurance and provide flexibility to the company to unlock value by bringing in global leaders in this space as strategic and equity partners.

Reliance Capital has appointed Mr. Ravi Viswanath, with over 20 years global experience in health insurance, as proposed CEO of the new company.

Shares of RELIANCE CAPITAL LTD. was last trading in BSE at Rs.603.5 as compared to the previous close of Rs. 556.4. The total number of shares traded during the day was 1634745 in over 27161 trades.

The stock hit an intraday high of Rs. 609 and intraday low of 561.8. The net turnover during the day was Rs. 963590937.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Mahindra Lifespaces - HDFC Capital affordable housing platform launches its first project
KPR Mill Ltd to consider buy back on Feb 22, 2018
Prime Focus Limited announces Q3 FY17-18 results
Varun Beverages Ltd. announces Q4 & CY2017 Financial Results CY2017
ITI Limited Announces Financial Results for the Quarter Ended December 31, 2017
ARSS Infrastructure Projects Ltd gets two work orders totaling Rs. 121.09 crores
Asian Oilfield Services Ltd announces resignation of CFO
PU Paint shop goes into commercial production
Infosys Ltd sells investment in Onmobile Systems Inc
Technocraft Industries India Ltd signs MOU to invest Rs. 183.32 crores
Dilip Buildcon Ltd declared L-1 bidder for EPC project in UP
DCM Shriram Ltd to consider 2nd interim dividend on Feb 23, 2018
Lloyds Metals and Energy Ltd signs MoU to set up Mineral based steel plant at Gadchiroli district
ITD Cementation India Ltd receives order from TANGEDCO
RCom shareholders approve asset monetization
CARE A1+ rating assigned to DCM Shriram Industries Ltd's CP programme
ITD Cementation India Ltd Board to consider Dividend on Feb 22, 2018
Menon Bearings Ltd announces resignation of Mrs. Nazura Ajaney
CDC Group plc, UK's Development Finance Institution extends Rs. 2,000 mn funds to Future Consumer Limited
HomeShop18 & Shop CJ aggregate their businesses under the HomeShop18 umbrella
8K Miles Software Services Limited (8K Miles) Launches Blockchain Platform 8K Miles Health Edge
APIDC nominee director resigns from Srikalahasthi Pipes Limited
Bright Brothers Ltd appoints company secretary
Som Distilleries & Breweries Ltd starts Maharashtra operations
Kesar Terminals & Infrastructure Ltd announces resignation of company secretary
Shree Cement Ltd commissions cement grinding unit in Rajasthan
Akzo Nobel India Limited commissions new powder coatings facility at Thane
Thomas Cook India honoured with Best Risk Management Award Travel & Leisure category
L&T Construction Wins Orders Valued Rs. 1,585 Crore
OM Metals Infraprojects Ltd Fixes Feb 28, 2018 as Record Date for Interim Dividend
Hindustan Foods Limited announces Q3 and 9M FY18 Financial Results
Centum Electronics Ltd Fixes Feb 23, 2018 as Record Date for Interim Dividend
Carborundum Universal Ltd Fixes Feb 26, 2018 as Record Date for Interim Dividend
Zee Learn Ltd to acquire MT Educare Ltd
BEML advances delivery of the first intermediate car unit to BMRCL
Rajesh Exports Limited secures an export order of Rs. 873 Crores
Dhanuka Agritech Ltd announces resignation of Mr. Balvinder Singh Kalsi as Director
Fineotex Chemical Ltd Board declares Interim Dividend of Rs. 0.20 for 2017-18
MosChip Performance Review: Q3 FY 2017-18
8K Miles Q3 FY17-18 EBITDA up by 59 % YoY and 10% QoQ
Balkrishna Industries Ltd Board Declares Third Interim Dividend of Rs. 1.50
Nestle India Ltd Board approves dividend of Rs. 23 for 2017
Hatsun Agro Product Ltd's MD bags award
Infibeam Incorporation Ltd Board declares Interim Dividend of Rs. 0.10
Indo Count Industries Ltd Board declares Interim Dividend of Rs. 0.40 for 2017-18
Vidhi Specialty Food Ingredients Ltd Board declares Third Interim Dividend of Rs. 0.20
OM Metals Infraprojects Ltd Board declares Interim Dividend of Rs. 0.35
Dhanuka Agritech Ltd declares interim dividend of Rs. 2
Dhunseri Tea & Industries Ltd appoints Executive Director
Carborundum Universal Ltd Board declares Interim Dividend of Rs. 1


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018