Reliance General Insurance likely to list

Reliance Capital is exploring an opportunity to list its general insurance business unit, Reliance General Insurance on the bourses. It is a fully-owned subsidiary of Reliance Capital. The valuation of the company is likely to be more than Rs 5,000 crore.

Reliance General Insurance conducts its operations through more than 100 branches and commands a market share of more than 3% w.r.t gross premium for the year ended March 31, 2017.

Anil Ambani's Reliance Group is undergoing a restructuring of their businesses. Earlier, the company announced its plans to list mutual fund business on Wednesday. The general insurance industry has witnessed a growth of 32% to reach Rs 1.27 lakh crore in the last financial year.

Reliance General Insurance posted 40% growth in gross written premium to Rs 3,935 crore during the last fiscal. The company has a net worth of Rs 1,257 crore at the end of March 31, 2017, reported a national news portal.

Reliance Capital Ltd :-
BSE 581.10 1.70 (0.29%)
NSE 580.90 1.50 (0.26%)

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