Reliance Life FY12 profit at Rs 373 cr

Reliance Life Insurance Company, part of the Anil Ambani group, reported its first full-year net profit at Rs 373 crore for the financial year ended March 31. In 2010-11, it had incurred a net loss of Rs 129 crore.

During the year, it sold 1.1 million policies, which garnered a total premium of Rs 5,470 crore. Total funds under management stood at Rs 18,767 crore.

The number of agents were at 0.15 million, a decline of 20 per cent year-on-year. This was in line with the focus on productivity and performance of agents.