Reliance Nippon Life logs 8% premium growth

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Mumbai, July 21 (IANS) Private life insurer Reliance Nippon Life Insurance Company Ltd on Friday said it closed the first quarter with eight per cent growth in its premium income.

In a statement issued here the company said it has earned a total premium (net of reinsurance premium) of Rs 700 crore for the quarter ended June 30.

The company – a subsidiary of Reliance Capital Ltd – has improved its persistency by six per cent to 66 per cent.

The assets under management stood at Rs 17,400 crore, logging a year-on-year (YoY) growth of 10 per cent.

“We are on a strong revival journey and, are moving steadily towards growth across all business lines backed by a robust strategy and strong execution capabilities,” Ashish Vohra, ED and CEO, Reliance Nippon Life was quoted as saying in the statement.

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“Our focus for the year will be to continue this drive towards building a profitable and sustainable growth story,” Vohra said.

–IANS

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