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Reliance General Insurance has registered a 25% increase in its Gross Written Premium (GWP) for the first quarter 2013-14 and collected total premiums of Rs 706 crore for the period.
The Company recorded 110% growth in health insurance premium at Rs 169 crore in Q1FY14, up from Rs 81 crore in the same quarter last year.
"Our strategy to change business and product mix, optimise use of technology, manage costs and expand our retail agent base has helped us achieve a significant turnaround in performance,” said Mr. Rakesh Jain, CEO Reliance General Insurance.
The total agency force of the general insurer increased by 14% in the April-June quarter of 2013-14 and stood at 11,500. Jain added that they were targeting to add over 3,000 agents to reach 15,000 retail agents by end of this fiscal.
