IndusInd Nippon Life Insurance
| File:IndusInd-Nippon-Life-logo.png IndusInd Nippon Life Insurance | |
| Company type | Joint venture |
|---|---|
| Industry | Financial services |
| Founded | 14 May 2001 |
| Headquarters | Santacruz, Mumbai, India |
Key people | Ashish Vohra (Executive Director & CEO) |
| Products | Life insurance Investment management |
| Total assets | ₹150 billion (US$1.8 billion)[1] |
| Parent | IndusInd Capital(Hinduja Group) Nippon Life |
| Website | www |
IndusInd Nippon Life Insurance Company (INLIC) (formerly Reliance Nippon Life Insurance Company (RNLIC)) is a life insurance company in India. The firm offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans.
History
[edit | edit source]The company offers life insurance products aimed at individuals and groups broadly classified into four distinct segments: protection, children, retirement and investment plans. Till year 2014 it was ranked amongst the top five private sector life insurance companies in terms of individual weighted received premium (WRP) and new business WRP and had over 1 crore policy holders with a strong distribution network of over 900 branches and around 100,000 agents.[2][3][4][5]
| 2001 | AMP Sanmar Life Insurance Company was formed |
| 2002 | AMP gets IRDA approval to commence business |
| 2005 | Reliance Life Insurance takes over AMP Sanmar |
| 2006 | Name changed to Reliance Life Insurance Co. Ltd. |
| 2007 | ISO 9001:2000 Certification |
| 2008 | Becomes 4th largest private insurer |
| 2010 | Becomes the largest private insurer in number of policies |
| 2011 | Nippon Life signs definitive agreement to acquire 26% of the company. |
| 2016 | Nippon acquires 49% stake in Reliance Life Insurance Company |
| March 2025 | Hinduja Group takes over Reliance remaining 51% of shares |
| December 2025 | Name changed to IndusInd Nippon Life Insurance Co. Ltd. |
Description
[edit | edit source]As of 31 March 2013, the Total Premium (net of re-insurance) was Rs. 40.15 billion, whereas new business premium stood at Rs. 13.77 billion. The company achieved a profit of Rs. 3.80 billion. The company sold 760,000 policies during 2012–13 with total managed funds valuing to Rs. 181.89 billion, through a wide network of distribution with 1,230 offices and over 124,000 advisors.[citation needed]
Reliance Nippon Life Insurance is a part of Reliance Capital of the Reliance Anil Dhirubhai Ambani Group.[6][7][8]
In March 2025, the company was taken over by the Hinduja Group.[9]
Important landmarks
[edit | edit source]Some of the important landmarks achieved by the company are:[2]
2025 - Renamed to IndusInd Nippon Life Insurance Co. Ltd.
2010 - Achieves status as largest private insurer in number of policies.
2008 - Establishes as 4th largest private insurer.
2006 - Renamed to Reliance Life Insurance Co Ltd.
2005 - Acquires AMP Sanmar.
2001 - Incorporation of AMP Sanmar Life Insurance Company.
See also
[edit | edit source]References
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External links
[edit | edit source]
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