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Reliance General profit rises 27% to Rs 165cr in FY18

Reliance General profit rises 27% to Rs 165cr in FY18

New Delhi, Apr 20 (PTI) Reliance General Insurance has reported a net profit of Rs 165 crore in 2017-18, up 27 per cent from a year earlier.

The gross premium written by the company increased by 28 per cent to Rs 5,122 crore, a company statement said today.

RGI, a Reliance Capital firm, said its online channel registered an increase of 40 per cent in gross premium collected during the year.

The company has a 7.7 per cent market shares in the private sector.

"We continue our growth momentum with rise in premium, along with improvement in bottom line. We grew at approximately 17 per cent in gross direct premium in 2017-18," said Rakesh Jain, ED&CEO, Reliance General Insurance.

Company offers insurance for motor, health, home, property, travel, marine and other speciality products.

Spread across 128 branch locations, companys agent network stood at 27,888 as on March 31, 2018. PTI KPM MR