Billionaire Anil Ambani's elder son Jai Anmol on Tuesday joined the board of Reliance Capital as an additional director after two years of training. Anmol, 24, has been working in various financial services businesses within Reliance Capital since He will become the full-time executive director at the forthcoming annual general meeting AGM next month.
The consolidated income of the diversified financial services major grew 16 per cent during the quarter under review to Rs 1, crore.
As of June 30,the total assets of the company stood at Rs 42, crore, an increase of 12 per cent. The bottomline performance at the consolidated level was driven by performance of asset management, life insurance and general insurance businesses. The average assets under management AAUM of Reliance Mutual Fund for the reporting quarter stood at Rs 97, crore, a year-on-year increase of 21 per cent.
The profit before tax was Rs 77 crore for the reporting quarter with a YoY increase of 32 per cent. The declared results of Reliance Capital include consolidation of 48 per cent stake in Reliance Life Insurance. Total funds under management, as of June 30,stood at Rs 18, crore.
Reliance Life Insurance has 10 per cent market share in the private sector life insurance industry, the company said. Total premium net of reinsurance was Rs crore for the quarter ended June 30, Reliance General Insurance Reliance General Insurance RGI offers insurance solutions for auto, health, home, property, travel, marine, commercial and other speciality products.
The profit for the quarter was Rs 10 crore as against a loss of Rs 20 crore for the quarter ended June 30, The gross written premium for the quarter ended June 30,was Rs crore, a YoY increase of 25 per cent.
At the end of June 30,the investment book stood at Rs 3, crore, a YoY increase of 20 per cent. The focus for RCF continues to be on asset-backed lending and productive asset creation.
Disbursements for the quarter ended June 30,were Rs 1, crore and the assets under management including securitised portfolio in the same period was Rs 15, crore, a YoY increase of 5 per cent.
RCF achieved a profit before tax of Rs 83 crore for the quarter, as against Rs 66 crore for the corresponding previous period with a YoY increase of 25 per cent. The business had revenues of Rs 54 crore for the quarter ended June 30, Shares of the company closed at Rs Edited by Sanghamitra Mandal.need for reliance life inurance project download, project report of reliance life insurance, reliance life insurance project, customer relationship management system project report, customer relationship management systems ppt, insurance management systems, diagram of life insurance management .
"The proceeds of over Rs 2, crore from 26 per cent strategic stake sale of Reliance Life Insurance to Nippon Life, were used to bring down debt at Reliance Capital," the filing added.
Products We Offer. Profectus Capital offers lending solutions for both Manufacturing as well as Service Sector segments. For Manufacturing Sector the offering comprises of Term Loans for Capital Expenditure and Working Capital Demand Loans.
Advice to Management. Be a little more flexible on the schedule, and get rid of mandatory Saturdays. I have been working at reliance First Capital for almost 3 years now. I love coming to work everyday. Being a working woman I can balance my work life and family life well because I know that my company cares.
Very competitive compensation. Earlier, he was working with Reliance Life Insurance Co. Ltd as Fund Manager -Fixed Income.
He has also worked with PNB Gilts Ltd. a leading Primary Dealer of the country & with Development Credit Bank Ltd in the areas of treasury, trading and fund management. About Reliance Nippon Life Asset Management.
Reliance Nippon Life Asset Management - RNAM (formerly Reliance Capital Asset Management Limited) is one of the largest asset manager in India and manages and advises Rs. 3,58, crore (US$ billion) as per March, , across mutual funds, pension funds, managed accounts, alternative investments and offshore funds.