AMP Sanmar is now Reliance Life Insurance

A day after gaining control of the four new entities carved out of Reliance Industries, the Anil Dhirubhai Ambani Group (ADAG) today rechristened the insurance business it acquired from AMP Sanmar as Reliance Life Insurance Company.

An official release issued by ADAG today said: "ADAG has obtained necessary regulatory approvals from the Registrar of Companies and IRDA to change the name of AMP Sanmar Life to Reliance Life Insurance Company."

"The company will henceforth issue all policy contracts under the name of Reliance Life Insurance. All existing policy contracts will also stand transferred to Reliance Life with all original contractual terms and commitements," the release added.

Reliance Capital, which is now a part of ADAG, had acquired the entire stake in AMP Sanmar from Australian insurer AMP and the Sanmar group in october 2005 for a little over Rs 100 crore.