New Delhi: Reliance General Insurance, arm of Reliance Capital, has registered a net profit of Rs 165 crore in the fiscal ended March, up by 28 per cent from a year earlier.
The company had posted a net profit of Rs 129 crore in 2016-17. Reliance General Insurance (RGI) gross direct premium income has grown by 29 per cent to Rs 5,069 crore for financial year 2017-18 vis-a-vis industry growth, which grew at approximately 17 per cent, the company said in a statement on Monday.
"We continue our growth momentum with rise in premium, along with improvement in bottom line. We have outpaced the industry, which grew at approximately 17 per cent in gross direct premium in 2017-18", said Rakesh Jain, ED and CEO, Reliance General Insurance (RGI).
The general insurer has written gross premium of Rs 5,122 crore in 2017-18, 28 per cent higher from a year ago's Rs 4,007 crore. The earnings per share for the last fiscal stood at Rs 6.56, up from Rs 5.12 in 2016-17.
The company's investment book increased to Rs 7,999 crore, up by 19 per cent from a year ago, it said in a statement.
RGI offers insurance cover for motor, health, home, property, travel, marine and other speciality products. The company is also is in the process of bringing its IPO. Stock of Reliance Capital closed 1.03 per cent higher at Rs 429.65 apiece on the BSE on Monday.
