ADAG clocks Rs 148 crore rural risk premium

Anil Ambani group's Reliance Life Insurance today said it sees significant growth potential in rural market and has already garnered premium worth Rs 148 crore since its foray at the beginning of this financial year.

The total premium collected by ADAG firm till November 2007 is about 48 per cent higher than the largest private sector life insurer ICICI Prudential's rural insurance premium. ICICI Prudential had collected total premium of Rs 100 crore since the launch of this initiative till November 2007.

"We see a significant growth potential in the suburban and rural markets. People in these areas have not been provided with adequate choice of quality insurance products and need to be educated on the benefits of insuring their lives," Reliance Life Insurance's CEO Nanda Gopal said.