Reliance Insurance

Medical evacuation & passport loss aid with Reliance insurance add-on plan

Policyholders can also avail of benefits like medical evacuation, trip cancellations, loss of passport assistance, and even adventure sports coverage

Swiggy disbursed Rs 102 cr in loans to delivery partners in last 12 months

Swiggy receives over 1.5 lakh loan applications monthly. It has partnered with Betterplace and Refyne to enable loans. There is no limit to the number of loans delivery partners can apply

Reliance gains 2% post September quarter results; brokerages remain upbeat

EBITDA increased by 30.2 per cent YoY to Rs 44,867 crore, on account of strong net subscriber addition and sharp increase in data traffic supported 80 bps margin improvements in Jio Platforms (JPL).

RGIC takes legal opinion on Hinduja's plan to extinguish ESOPs of RCAP

Hinduja-led IIHL -- the successful bidder for Reliance Capital under insolvency proceedings -- cannot extinguish the employees stock options (ESOPs) and other incentive schemes for the Reliance General Insurance Company (RGIC) employees, a subsidiary of Reliance Capital, according to legal opinion taken by Reliance General Insurance. The legal opinion was necessitated as IIHL in its resolution plan for Reliance Capital has sought to extinguish all employees stock option plans, phantom stocks or similar incentive schemes of Reliance Capital and its subsidiaries, including RGIC, so that no additional cost is incurred after the takeover. Reliance General Insurance has issued ESOPs to its employees. Khaitan & Co in its legal opinion submitted to the RGIC has opined that under IBC, treatment of assets and liabilities of subsidiary companies are not permitted to be prescribed under a resolution plan for the holding company. The IBC recognises the principle of 'separate legal entity', ...

Reliance General Insurance gets Rs 922 crore GST notices from DGGI

Bankers suggest that the new tax demand could impact the company's valuation

Reliance bags contract for Meghalaya universal health insurance scheme

Reliance General Insurance Company Ltd on Tuesday said they have been awarded the contract for the implementation of Meghalaya's health insurance for citizens. TheICL will be implementing the Megha Health Insurance Scheme and the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana phase 6. "The contract is awarded after a competitive bidding process, in whichICL emerged as the successful bidder to implement a revised MHIS 6 scheme in convergence with PMJAY, providing an insurance cover of Rs 5,30,000 for all eligible beneficiaries on a family floater basis,"ICL said in a statement here. It stated that the state government has decided to review the Health Benefits Package and other terms in the Insurance Contract of MHIS 6 and will cover over 7 lakh families in Meghalaya, providing them with comprehensive health insurance coverage that will meet their secondary and tertiary care hospitalisation, outpatient care, diagnostic tests, and follow-up care. ICL CEO Rakesh Jain said, "We are ..

Reliance General Insurance gets Rs 200 cr capital infusion from parent

Reliance General Insurance Company Ltd (RGICL) on Monday said it has raised a capital of Rs 200 crore by issuing equity shares to debt-ridden parent entity Reliance Capital. Reliance Capital is under the resolution process as per the Insolvency and Bankruptcy Code. Infusion has been done following the lenders of Reliance Capital giving approval for the capital support to improve the solvency margin of the general insurance arm. With this capital raise, RGICL is reinforcing its commitment to financial strength and readiness to capitalize on emerging opportunities in the insurance sector, the company said in a statement. The shareholders of the company at its Extraordinary General Meeting (EGM) held on July 29, 2023, have approved infusion of capital of about Rs 200 crore in the company, by way of the issue of equity shares on a private placement basis, it said. This capital infusion is aimed at pursuing new business opportunities for growth and securing the company's position among

Eyeing expansion, Reliance gets RBI's special approval to raise funds

The money is likely to be used to support the working capital needs of the company besides expansion in energy and telecom businesses

CBI raids Satya Pal Malik's ex-press secretary's house in corruption case

The case pertains to a health insurance scheme that Malik was allegedly asked to push. Malik had claimed that he was offered a bribe for clearing the files during his tenure as the J&K Governor

Hinduja's offer to infuse Rs 300 cr more in Reliance General Insurance

Group's total bid increases to Rs 10,000 cr, will strengthen its presence in finance services if it wins Reliance Capital race

Satyapal Malik called by CBI in J-K insurance case on April 27-28

This comes days after the former Governor had alleged an insurance scam involving Reliance General Insurance in J-K

Reliance General Insurance seeks a capital infusion of Rs 600 crore

Reliance Capital is undergoing bankruptcy proceedings since November 2021 after defaulting on loans worth Rs 24,000 crore

Reliance General Insurance seeks Rs 600 crore from bankrupt parent

Profit-making subsidiary's request complicates matters for Reliance Capital's lenders that have to decide matter Friday

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Piramal, Zurich Insurance may bid separately for Reliance General Insurance

Piramal, Zurich Insurance may bid separately for Reliance General Insurance

Administrator seeks RBI nod to restructure Reliance Capital into four CICs

Will help bidders for its insurance business to avoid Irdai's 5-year lock-in

Tatas exit race to buy Reliance Capital's general insurance arm

Group only interested in general insurance, but lenders want firms to bid for entire cluster of companies

Market wrap: RIL, HDFC, TCS power 673-point Sensex rally; Nifty tops 17,800

Sugar stocks rally on strong outlook; Triveni, Balrampur hit new highs; two Tata Group stocks zoom over 2,400% in one year; Vedanta slides over 6% on weak Oct-Dec aluminium output

Reliance General Insurance gets IRDAI approval to test 9 products

Reliance General Insurance Company will soon roll out nine sandbox products to cater to the fast transforming customer requirement in the insurance sector. The company has received sandbox approval for the nine products from the Insurance Regulatory and Development Authority of India (IRDAI) in one go in the 2nd cohort, the 4th largest private sector general insurer said. The announcement is in line with the company's long-term goal of re-innovating and redefining the insurance sector to cater to the fast-transforming customer expectations in the digital age, it said in a release. The company said three of these products are from the telematics segment. Rest of the offerings are from the company's innovative product line designed to address customers' current and future policy requirements. Reliance General Insurance Company is one of the most tech driven companies and it aims to introduce these pioneering product offerings to provide holistic insurance cover from a futuristic ...

Insurance Gazette: Some discipline is needed in the healthcare ecosystem

Industry leaders speak about the learnings over the past year and the opportunities for progress that the pandemic has provided