365Telugu.com online news,Mumbai, May 27, 2025:Reliance General Insurance Company Limited (RGICL) has reported a resilient performance for FY 2024–25, reflecting its focus on digital innovation, customer-centric products, and a diversified distribution strategy. Despite facing challenges under the Insolvency and Bankruptcy Code (IBC) for nearly three years, RGICL marked a significant turnaround following its acquisition by IndusInd International Holdings Ltd (IIHL), Mauritius, in March 2025. IIHL’s capital infusion of ₹300 crore and access to its extensive pan-India network have further strengthened the company’s position.
Key Highlights for FY25
- Gross Direct Premium (GDP): ₹12,548 crore, a YoY growth of 7.4%, exceeding the general insurance industry’s growth rate of 5.2%. Adjusted for the IRDAI-mandated 1/n accounting for long-term products effective October 1, 2024, the GDP growth stands at 8.5%.
- Profit After Tax (PAT): ₹315 crore, a YoY increase of 12.5%.
- Investment Book: ₹21,358 crore, up from ₹20,514 crore in FY24, with an impressive AUM to Net Worth ratio of 6.2x.
- Net Worth: ₹3,429 crore, reflecting a 10.2% YoY increase.
- Solvency Ratio: Maintained at 1.59x, comfortably above the regulatory requirement of 1.50x.
- Capital Infusion: An additional ₹100 crore was infused by Reliance Capital Limited in May 2025, reinforcing RGICL’s financial strength.
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- Expanded Reach: Over 1,15,000 customer touchpoints established nationwide, enhancing service accessibility.
- Product Innovation: Launched advanced insurance solutions across motor, health, and SME sectors to meet evolving customer needs.
- Claims Excellence: Achieved an industry-leading claims settlement ratio of 99.57% (within 3 months), reinforcing customer trust.
- Technology Investments: Continued focus on AI-led underwriting and digital solutions to enhance operational efficiency, risk management, and customer experiences.
Leadership Remarks
Mr. Rakesh Jain, CEO of RGICL, said:
“FY 2024–25 showcased our disciplined execution, strategic investments, and strong growth despite a challenging market. Our focus on seamless customer experiences, cutting-edge technologies, and talent development has created a future-ready organisation. The conclusion of Reliance Capital Limited’s CIRP and our new partnership with IIHL marks the beginning of a transformative chapter for us. With IIHL’s robust backing and expertise in financial services, we’re poised to accelerate our growth and lead innovation in India’s general insurance sector.”
Looking Ahead
With IIHL’s strategic support and long-term vision, RGICL aims to:
- Enhance operational agility and capital strength.
- Deepen distribution partnerships across India.
- Drive digital transformation and customer-first innovation.
Accolades:
RGICL was honoured with the Best Brand Award by ET Now, Best Use of Technology and Best CX Team of the Year 2025 by Bharat BFSI Leadership Summit & Awards. Additionally, the company earned recognition as a “WOW Workplace 2025” by Jombay, underscoring its commitment to fostering an inclusive and engaging work environment.
Reliance General Insurance is now well-positioned to lead the next phase of growth in India’s general insurance sector, delivering exceptional value to policyholders, partners, and stakeholders alike.