multiple life insurance companies.
Mr. Anup Rau, CEO, Reliance Life Insurance Ltd said, "We welcome IRDA's new regulations, allowing banks to become licensed insurance brokers and to offer products of multiple life
insurance companies to their customers.
We are happy that IRDA has taken an extremely progressive measure in the best interests of hundreds of millions of consumers across all strata of society.
These new regulations will lead to an open bancassurance architecture and will drive banks to align their interest with their customers by offering them a wider choice of products from a larger number of life companies, instead of the existing conflicted practice of pushing products from a single manufacturer".
"We expect these new regulations to lead to much deeper penetration and enhanced distribution for the life insurance industry in general, thereby contributing to a greater sense of security for all Indians, and also serving important long-term economic objectives for the nation," said Mr. Rau.
www.reliancelife.com
Reliance Life Insurance Company Limited, associate of Reliance Capital Limited, is one of India's top private sector life insurance companies with business premium, including renewal premium of
over Rs. 4,015 crore for the year ended 31st March 2013.
The company has sold over 7.5 lakh policies during the above financial year and has an asset under management of more than Rs 18,189 crore (as on 31st March 2013). It has an extensive
distribution network of 1,000 offices and over 1,00,000 advisors.
Reliance Life Insurance offers a comprehensive range of innovative and need-based products, including protection, investment and retirement, targeted at individuals and groups.
Sanjiv Kumar sanjiv.k.sinha@relianceada.com Reliance Life Insurance 09312456677
Sharad Goel sharad.goel@relianceada.com Reliance Capital Ltd 09324984296
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