Reliance Nippon

CBI files chargesheets in ₹2,796 crore fraud case against Anil Ambani firms

Besides Ambani, the CBI has also filed chargesheets against Rana Kapoor, Bindu Kapoor, Radha Kapoor, Roshni Kapoor, RCFL, RHFL, RAB Enterprises Private Limited, and other entities

Reliance Nippon Life in talks with IndusInd Bank on bancassurance tie up

Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely clear about promoting the insurance business. This augurs very well for the business and policyholders as IIHL has a very strong capital base and a solid global aspiration in BFSI space," Reliance Nippon Life Insurance CEO Ashish Vohra told PTI. Hinduja Group company IIHL is expecting to complete the acquisition of RCAP by next month nearly a year after the National Company Law Tribunal (NCLT) approved its rescue plan. "Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are .

Hindujas' Reliance Capital buy faces further delay; matter pending in SC

Matter pending in Supreme Court; group firms to pay Rs 9,661 crore to lenders only after all the clearances

Bankers await closure of Reliance Cap acquisition by Hinduja Group

The group may look at raising by pledging shares of other group entities

Acquisition of RCap: Hinduja-led IIHL in a fix after setback from Irdai

The RBI-appointed Administrator of debt-ridden Reliance Capital (RCAP) has written to Hinduja Group firm IndusInd International Holdings Ltd (IIHL), the successful bidder for acquiring RCAP, raising questions on the source of funds and business plan, sources said. The letter went from the Administrator after Insurance Regulatory and Development Authority of India (Irdai) rejected IIHL's proposal to raise funds for the RCAP acquisition by creating a pledge over the shares of Reliance General Insurance (RGIC) and Reliance Nippon Life Insurance (RNLIC), sources said. RGIC and RNLIC are subsidiaries of the debt-ridden financial services firm. In a letter to IIHL, sources said, the Administrator has asked the successful resolution bidder IIHL to submit a fresh application along with the source of funds and the business plan which do not contemplate the creation of pledge over the shares of RGIC and RNLIC. The Administrator has written to IIHL that in their meeting with Irdai on October

Reliance Nippon Life declares Rs 344 crore bonus to policyholders

Reliance Nippon Life Insurance Company on Monday announced an annual bonus of Rs 344 crore to its participating policyholders for FY23. The company reported Rs 108 crore in net income for the year, which is a 65 per cent growth over FY22. This bonus issuance will help over 5.69 lakh participating policyholders, Ashish Vohra, the chief executive said, adding the insurer has been giving out bonuses for the past 22 years. Reliance Nippon Life has assets under management of Rs 30,609 crore and a total sum assured of Rs 85,950 crore as of March 2023.

Aditya Birla Capital to seek regulator role in RCap resolution process

Warns it will seek intervention if RCap's Administrator ignores its demand for additional info on the company

Nippon Life-Birla Sun Life merger talks fail ahead of RCap deal deadline

Sources say Nippon Life of Japan not keen on diluting its holding in Reliance Nippon Life Insurance Company to less than 10%--something that the merger will bring about

Aditya Birla Capital joins race to acquire life insurer Reliance Nippon

Reliance Capital holds 51 per cent stake in RNLIC and Nippon Life of Japan the rest

Torrent group to make Rs 2,900-cr bid for Reliance Nippon Life Insurance

Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters

Reliance Nippon Life declares Rs 306.8 cr bonus to policyholders

This bonus issuance will benefit over 685,000 participating policyholders

Reliance Nippon Life AMC to side-pocket NCDs of Reliance Capital

Reliance Equity Hybrid Fund's exposure to RCap's NCDs stood at Rs 34.6 crore (at face value), while Reliance Equity Savings Fund's exposure to the NCDs stood at Rs 95.7 crore

Anil Ambani-led Reliance Nippon Offer for sale gets oversubscribed

Maximum bids came at Rs 267 per share, higher than the floor price of Rs 262

Reliance Capital to sell 3.15% stake in Nippon Life, raise over Rs 505 cr

Reliance Capital, which is one of the promoters of the Reliance Nippon Asset Management, has an option to sell an additional a little over 1.93 crore shares

Reliance Nippon Life Asset net profit drops 17% to Rs 109 crore in Q3

Reliance Nippon Life Asset's revenue from operations declined to Rs 349.85 crore in the December quarter 2018, from Rs 398.98 crore in the year-ago period