Reliance General registers 30% rise in Q1 net profit at Rs 57 cr
- Country:
- India
Reliance General Insurance today reported a rise of 30 percent in its net profit at Rs 57 crore in first quarter of this fiscal, ended June.
The gross premium was Rs 1,571 crore, a year-on-year increase of 23 percent, Reliance General Insurance (RGI) said in a release.
The investment book increased to Rs 8,261 crore, up by 20 percent from a year ago. The online channel registered 32 percent growth in gross premiums collected during the quarter, it said.
"We have witnessed the growth of 23 percent in Q1 FY19 (vis-a-vis industry growth of 12 percent). The net profit rose by 30 percent," said Rakesh Jain, ED & CEO, Reliance General Insurance Company.
A wholly-owned subsidiary of Reliance Capital, RGI offers motor, health, home, property, travel, marine and other specialty products.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
Google News