Reliance Nippon Life Insurance Company renewal premium grew to Rs. 762 crore

Reliance Nippon Life Insurance Company Limited, a subsidiary of Reliance Capital Ltd., announced its financial results for the quarter ended September 30, 2017. The key performance highlights are:

- Individual WRP was Rs. 165 crore (US$ 25 million) - a YoY increase of 4%
- Average ticket size improved to over Rs. 34,000 in Q2 FY18 - a YoY increase of 33%
- Assets under Management stood at Rs. 17,983 crores (US$ 2.8 billion) - a YoY increase of 11%
- Embedded Value rose from Rs. 3,047 crore to Rs. 3,147 CRORE (US$ 484 million) as on September 30, 2017
- Wide distribution network with approx. 750 branches and 69,400 active advisors across India
- Individual new business at Rs. 169 crore - Up 3%
- Renewal Premium grew to Rs. 762 crore - Up 3%
- Total Premium (Net of Reinsurance) stood at Rs. 963 crore

"We have achieved significant progress across business parameters in this fiscal, driven by robust strategy and strong execution capabilities. Our focus continues towards building a profitable and customer centric growth story, driven by higher agency productivity and a favourable product mix", said Mr. Ashish Vohra, ED & CEO, Reliance Nippon Life Insurance Company Ltd.

Shares of RELIANCE CAPITAL LTD. was last trading in BSE at Rs.566.2 as compared to the previous close of Rs. 551.65. The total number of shares traded during the day was 414908 in over 5770 trades.

The stock hit an intraday high of Rs. 569 and intraday low of 549. The net turnover during the day was Rs. 233002153.

Source : Equity Bulls

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