GROWTH AT RELIANCE CAPITAL’S INSURANCE UNITS

New business premium written by India’s Reliance Life Insurance rose 173% in the quarter ending June 30. The company, part of the Reliance Capital group, saw new business premium income of $133m during the quarter. Reliance Life, which aims to take a leading position in India’s life insurance market, offers 28 products, 23 of which are targeted at individuals. Its sister company Reliance General Insurance also wrote gross premiums of $133m during the quarter, although this represented an increase of just 5% year-on-year. Products in the Reliance General portfolio include motor, health, property and marine insurance.