Mumbai: Private life insurer Reliance Nippon Life Insurance Company Ltd on Friday said it closed the first quarter with eight per cent growth in its premium income.
In a statement issued here the company said it has earned a total premium (net of reinsurance premium) of Rs 700 crore for the quarter ended 30 June.
The company - a subsidiary of Reliance Capital Ltd - has improved its persistency by six percent to 66 percent.
The assets under management stood at Rs 17,400 crore, logging a year-on-year (YoY) growth of 10 percent.
"We are on a strong revival journey and, are moving steadily towards growth across all business lines backed by a robust strategy and strong execution capabilities," Ashish Vohra, ED and CEO, Reliance Nippon Life was quoted as saying in the statement.
"Our focus for the year will be to continue this drive towards building a profitable and sustainable growth story," Vohra said.
Published Date: Jul 21, 2017 03:03 pm | Updated Date: Jul 21, 2017 03:07 pm