Reliance General Insurance delivers PAT up YoY by 12.5% at INR 315 cr, Gross Direct Premium of ₹12,548 crore – up 7.4% YoY, outpacing industry growth of 5.2%
Mumbai, May 28, 2025: Reliance General Insurance Company Limited (the Company), delivered a resilient performance in FY 2024–25, underpinned by its digital-first approach, customer-centric products, and diversified distribution strategy. It continued to expand footprint across retail, corporate and government business segments while maintaining robust risk management practices.
The company, which faced strong headwinds being under IBC for nearly 3 years, has been acquired by IndusInd International Holdings Limited (IIHL). In order to resurrect the position of the Company, the new promoter has already infused capital amounting to Rs. 300 crores. Distribution channel being one of the core advantages in the insurance business, Promoter’s adjacencies to a vast pan-India network, will also be a boost to the company’s reach.
Key performance highlights for the year ended March 31, 2025, are:
- Gross Direct Premium (GDP): ₹12,548 crore – a YoY increase of 7.4%, outpacing general insurance industry growth of 5.2%. With effect from October 1, 2024, Long-term Products are accounted on a 1/n basis, as mandated by IRDAI. Adjusted for the 1/n accounting impact, GDP growth stands at 8.5%.
- Profit After Tax (PAT): ₹315 crore – a YoY growth of 12.5%.
- Investment Book: ₹21,358 crore – up from ₹20,514 crore in FY24, with one of the best Investment AUM to Net Worth ratio of 6.2x, indicating a strong cash position.
- Net Worth: ₹3,429 crore – an increase of 10.2% YoY.
- Solvency Ratio: Maintained at 1.59x – comfortably above the regulatory requirement of 1.50x.
- Capital Infusion: ₹100 crore infused in May 2025 by the parent company, Reliance Capital Limited, reinforcing the company’s financial strength and growth momentum.
Operational Highlights:
- Expanded National Reach: Over 1,15,000+ customer touchpoints established across India, enhancing service accessibility.
- Innovative Product Launches: Introduction of new-age insurance solutions across motor, health, and SME segments to meet evolving consumer demands.
- Claims Excellence: Achieved a best-in-class claims settlement ratio of 99.57% (Claims settled < 3 months), reinforcing the Company’s reputation for reliability and customer trust.
- Technology-Driven Growth: Continued investments in AI-led underwriting and digital solutions to improve efficiency, risk assessment, and customer experience.
Commenting on the Company’s performance, Mr. Rakesh Jain, CEO of Reliance General Insurance, said: “FY 2024–25 marked a year of disciplined execution, strategic investments, and resilient growth, even in a dynamic and challenging market environment. Our continued focus on delivering seamless customer experiences, adopting cutting-edge technologies, and investing in talent has helped us build a strong, future-ready organisation. We remain steadfast in our commitment to protecting the aspirations of millions of Indians through innovative and trusted insurance solutions.”
He further added that “The successful conclusion of the CIRP of Reliance Capital Limited in March 2025 has opened a transformative new chapter for us under the stewardship of IndusInd International Holdings Limited (IIHL). With IIHL’s strong financial backing and proven expertise in financial services, we are confident in our ability to accelerate our growth journey and lead the next wave of innovation in India’s general insurance sector.”
The strategic support and long-term vision of IIHL are expected to bring enhanced operational agility, capital strength, and digital innovation capabilities to RGICL. This partnership will empower the Company to scale new heights by deepening distribution partnerships, embracing cutting-edge technologies, and reinforcing its commitment to customer-first innovation.
Well-positioned in a growing market, Reliance General Insurance is now equipped to lead the next wave of growth in India’s general insurance sector, delivering greater value to policyholders, partners, and stakeholders alike.
The Company has been awarded the Best Brand award by ET Now, Best Use of Technology & Best CX Team of the year 2025 by Bharat BFSI Leadership Summit & Awards. The company is also recognised as a “WOW Workplace 2025” by Jombay, reflecting the company’s commitment to creating an inclusive, empowering, and engaging workplace.