Anmol Ambani plans digitisation push and listing of Reliance General Insurance

Reliance Capital executive director Anmol Ambani, the elder son of Anil Ambani, said at the company's annual general meeting (AGM) that the group plans to list Reliance General Insurance in this financial year. Here are key highlights

By Nevin John  
Tuesday, September 18, 2018

Reliance Capital executive director Anmol Ambani, the elder son of Anil Ambani, said at the company's annual general meeting (AGM) that the group plans to list Reliance General Insurance in this financial year. Here are key highlights:

1. RCap today is #1 NBFC in India with business size of Rs 93,000 crore, combined Asset under management (AUM) of Rs 4.5 lakh crore and over 20 million customers.

2. RCap is the core investment company (CIC) for the group, which will identify and incubate businesses in emerging business areas in financial services and fin-tech.

3. The company is making significant investments in people, systems, and processes to become a future-ready organisation.

4. Looking to list Reliance General Insurance in current financial year, thereby unlocking value for shareholders.

5. Reliance Mutual Fund has the largest retail book in the entire MF industry.

6. Looking to start Reliance Health Insurance operations soon, aim to simplify health insurance experience.

7. Big focus on digitisation; MF transactions up 2.2 times, thanks to digitisation; Settled over 1 million insurance claims on digital platform.

8. India's rural market looks compelling as it remains underserved. RCap is gearing up to penetrate deeper and serve rural India.

9. Future opportunity lies in tapping young, digitally savvy Indians; looking to invest further in this area.

10. After the merger of commodity exchanges ICEX and NMCE, we now have the 3rd largest commodity exchange. Keen to expand to other asset classes and awaiting guidelines on universal exchanges.

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