₹380
*Average Price as per 11 November, 2024
Fundamentals
FACE VALUE
10
BOOK VALUE
102.17
NO OF SHARES
252067917
EPS
10.74
SALES
9279.2
INDUSTRY PE
0
DIVIDEND
0.04
DIVIDEND YIELD
0.01
PE
52.14
PB
5.48
PS
1.52
MARKET CAP
14115.8
EQUITY
2520.68
PAT
2706.87
MESSAGE
OVERVIEW
Reliance General Insurance Ltd. (RGIC) is a prominent private general insurance company in India. Established in 2000, it's a subsidiary of Reliance Capital, which itself falls under the Reliance Anil Dhirubhai Ambani Group.
2000: Reliance General Insurance Company Limited was incorporated as a private limited company in India
2001: It received the license to conduct general insurance business in India from the IRDAI
2006: Launched its first insurance product exclusively for e-commerce sellers
2011: Entered into a bancassurance tie-up with IndusInd Bank to offer insurance products to the bank’s customers
2017: The company became a part of the Reliance Anil Dhirubhai Ambani Group
2018: Entered into a partnership with Paytm to provide insurance products to Paytm customers
Mr. Rakesh Jain - Executive Director & CEO
Mr. Rajendra Chitale - Chairman & Independent Director
*Others include Public Liability, Employer’s Liability, Personal Accident, Aviation, Marine and Engineering
Reliance General Insurance was a 100% fully owned subsidiary of Reliance Capital. Reliance Capital is a financial services holding company with a presence in various sectors like insurance, investment, and asset reconstruction. Reliance Capital was under insolvency proceedings due to 40,000Cr debt issues.
The acquisition of Reliance Capital by IndusInd International Holdings Ltd (IIHL), a part of the Hinduja Group, is still ongoing as of today, April 2024. IIHL's bid has received approval from the National Company Law Tribunal and the Competition Commission of India. IIHL's winning resolution plan involves an upfront cash payment of Rs 9,650 crore along with Reliance Capital's existing cash balance of Rs 500 crore going to the lenders. The acquisition will give IIHL control over Reliance Capital's various financial services businesses.
Reliance General Insurance Company (RGICL) will be rechristened as IndusInd General Insurance Company.
INSIGHT
In Crs
Particulars | 31st March, 2023 | 31st March, 2022 | Y-o-Y % increase |
Gross Written Premium (GWP) | 10489 | 9504 | 10.4% |
Net Earned Premium | 6022 | 5134 | 17.3% |
Revenue | 967 | 931 | 4% |
PAT | 271 | 242 | 12% |
EPS | 10.7 | 9.5 |
Particulars | Q1 FY 2025 | Q1 FY 2024 | Growth (%) |
Gross Written Premium | 3366 | 2888 | 17% |
Profit Before Tax | 110 | 92 | 19% |
Profit After Tax | 80 | 68 | 18% |
Solvency Ratio (Times) | 1.60 | 1.57 | - |
Net Worth | 3194 | 2643 | 21% |
Investment | 21303 | 17842 | 19% |
Please Find Attachment of the News in Economics Times https://drive.google.com/file/d/140Qq5S9kof6tC4hjyx1rxSjVQ5z0enVq/view?usp=drivesdk
Particulars | Reliance General Insurance Ltd |
Claims Settlement Ratio | 77% |
Combined Ratio | 110% |
Net Retention Ratio | 60% |
Solvency Ratio | 1.57 |
Underwriting Balance Ratio | -0.12 |
Gross Direct Premium Growth Rate | 10% |
Net Earnings Ratio | 4.3% |
Net Commission Ratio | -3% |
There's a noticeable upward trend in net earned premium over the years, indicating that Reliance General Insurance has been experiencing growth in its revenue stream. The significant increase from 2020-21 to 2021-22 suggests that Reliance General Insurance have implemented successful strategies to expand its market presence.
The outlook for general insurance companies in India is positive, with a projected growth rate exceeding global averages.
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