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Reliance Life Insurance takes over AMP Sanmar 2006: Name changed to Reliance Life Insurance Co. Ltd. 2007: ISO 9001:2000 Certification 2008: Becomes 4th largest private insurer 2010: Becomes the largest private insurer in number of policies 2011: Nippon Life signs definitive agreement to acquire 26% of the company. 2016
The acquisition occurred by maneuvering a complex deal through the Independent Media Trust (IMT), set up by Reliance Industries to issue a loan for the debt encumbered Network18 in 2012. [26] [47] It resulted in Reliance receiving 78% of the shareholding, [47] and as of 2019, the conglomerate holds 73.16% of the shares. [80]
In 2011, Reliance Capital sold 26% stake in its life insurance business, Reliance Life Insurance, to Nippon Life Insurance (Nissay), amongst the world's largest life insurers, with an AUM of over $600 billion. The transaction was completed at Rs. 3,082 crore for a 26 per cent stake, valuing Reliance Life Insurance at $2.6 billion. [35] [36]
Reliance Solar, the solar energy subsidiary of Reliance, was established to produce and retail solar energy systems primarily to remote and rural areas. It offers a range of products based on solar energy: solar lanterns, home lighting systems, street lighting systems, water purification systems, refrigeration systems and solar air conditioners.
NSE EMERGE [2] is the National Stock Exchange of India's new initiative for small and medium-sized enterprises and startup companies from India. [3] These companies can get listed on NSE without Initial public offering (IPO).
CAMS was founded in early 1988 by V Shankar working in software development and computer education. During Y2K, CAMS pivoted to domestic financial services.. The Indian financial services industry experienced a renaissance in the period 1997/8-2006/7, with changes in regulation, products, and supporting infrastructure.
Reliance General Insurance Company Limited is a private general insurance company and a subsidiary of Reliance Capital, part of the Reliance Anil Dhirubhai Ambani Group. Founded in 2000, it is headquartered in Mumbai, India. As of March 2023, the company operates through a distribution network comprising over 131 branches and more than 75,000 ...
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.