Reliance Life Insurance Company (RLIC), part of Reliance Capital, today said that it has crossed the milestone figure of Rs 15,000 crore in its assets under management (AUM). This milestone closely follows the Rs 10,000 crore AUM mark recorded by Reliance Life Insurance in September 2009.
"RLIC would be among the fastest private sector life insurance companies to cross this milestone in a span of less than 5 years," said Malay Ghosh, president and executive director, Reliance Life Insurance.
The company's AUM has grown from Rs 200 crore in October 2005 to Rs 15,000 crore in August 2010, registering 142 per cent growth per annum in the last five years.
"The landmark of Rs 15,000 crore AUM is a reflection of the faith and confidence that our policyholders have bestowed in the company and its investment strategies. Our wide-ranging fund offerings and sharp focus on growth have helped us achieve this milestone. We have issued over 9.5 million policies till date and would continue to reach out to our customers with a range of products to suit their need," said Ghosh.
The company is targeting to double its AUM to Rs 30,000 crore by 2011-12 from the current AUM of Rs 15,000 crore.
"Our fund management capabilities have yielded rich returns to the customers. In the last 12 months, all our funds have outperformed their respective benchmarks. We will continue to focus our investments in companies with strong management, healthy financial growth performance and dynamic business model," said Rangarajan Rajagopalan, chief Investment officer, Reliance Life Insurance.