NEWS & ADVICE : AUTO INSURANCE
Reliance General Insurance expects to grow 20% in FY14
By Neelima Shankar
Jun 10, 2013
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Private sector general insurance company, Reliance General Insurance is expecting to grow around 20 per cent in the current financial year, a top company official said.

"We hope to grow around 20 per cent in this fiscal. Our focus is on growing both on top-line and bottom-line fronts," said Mr. Rakesh Jain, Chief Executive Officer of Reliance General Insurance.

The company recorded a premium growth of 17.37 per cent to Rs 2,010 crore for the last financial year.

Mr. Jain said that the company wants to have profitable growth with more focus on value than on volume alone.

Referring to focus areas, Mr. Jain said that the company would mainly concentrate on weather insurance along with liabilities side to drive growth in the current fiscal.

"Currently, while retail contributes 80 per cent of the total business, 20 per cent comes from the corporate side. We want to bring a balance between the two and seek to increase corporate line of business to 25 per cent in the near future," Mr. Jain added.


 


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