Reliance Life, NetAmbit in distribution tie up

Anil Ambani Group firm Reliance Life Insurance has tied up with a financial services distribution company NetAmbit.

With this tie-up, all products of Reliance Life Insurance can now be purchased through the offices and outlets of NetAmbit, spread across 140 locations in the country.

"It is part of our strategy to enhance our distribution reach and offer our range of innovative product to a larger section of people across smaller towns and villages," said Reliance Life President Malay Ghosh in a statement.

"With this tie-up, we are now well on our way to offer more options to our customers through 4,000 personnel," said NetAmbit Chairman and Managing Director Girish Batra.
    
Reliance Life Insurance had sold the highest number of policies among 22 private sector players in 2009-10. During the year, the company sold about 23.2 lakh policies against 22.1 lakh policies in the previous year.
    
In the first two months of the current fiscal, the first year premium collections of Reliance Life increased by 22.5 per cent to Rs 316 crore.
    
The insurance company, which operates through a distribution network of 1,247 branches, has Rs 13,677 crore of assets under management.