Reliance General Insurance is one of the leading insurance companies in India. Follow @ETBFSI for the latest news, insider access to events and more. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Sustainability Post Pandemic: Encashing Digital. General Insurance: Reliance Capital in talks for stake sale in general insurance arm. Reliance Nippon is valued at over Rs 5,000 crore and the sale of controlling stake is expected to be at a significant premium to market, the statement claimed. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Mumbai: Reliance Capital on Thursday claimed that it is hopeful of pairing its debt by around Rs 12,000 crore over the next three to four months, by when it expects to complete the stake sale in Reliance Nippon Life Asset Management and Reliance General Insurance. Reliance General Insurance, which plans to rope in a strategic partner through the stake sale, is expected to get a valuation of Rs 6,000 crore (File Photo) Two financial sector entities — Reliance General Insurance and Central Depository Services (India) (CDSL) — are planning to list their shares. The company proposes to exit from its wholly-owned subsidiary Reliance General Insurance Company Limited (RGI) with paid up capital of Rs 252 crore as of September 30, 2020, sources said, adding that 51 per cent stake in Reliance Nippon Life Insurance Company is also for sale. M&A. WEB FRIENDS. Reports indicate that Reliance Capital is also planning to sell a 26% stake in its general insurance business, Reliance General Insurance, at an appropriate time. ... Reliance Capital completes 26 percent stake sale in Reliance Life Insurance To Nippon City : Mumbai/Tokyo. April 18 2019 by InsuranceAsia News Staff. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Digital Editor. In addition, RCL has put on sale 49 per cent stake in Reliance Asset Reconstruction Limited which manages portfolio of Rs 1,996 crore as of September 30, 2020. According to sources, the process for inviting Expression of Interest (EOI) for its key assets was launched on October 31, 2020, with a view to unlock value of its underlying businesses and targets to make RCL debt free.document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); EOIs invited for all or part of RCL's stake of subsidiaries Reliance General Insurance, Reliance Nippon Life Insurance Company, Reliance Securities, Reliance Financial Limited and Reliance Asset Reconstruction Limited. Mumbai: Creditors to Reliance Capital (RCap) have received interest from at least six potential investors for a part or whole stakes in Anil Ambani-controlled company.On the block are majority stakes in insurance, asset reconstruction and securities brokerage firms and a part stake in a commodity exchange. The principal amount due to HDFC is Rs 523.98 crore and to Axis Bank Rs 100.63 crore. Reliance Capital has decided to hold back for now its plans to offload a stake in its general insurance business, Sam Ghosh, Chief Executive Officer, said. Reliance Captial | Reliance Group, Press Trust of India | The life insurer with asset under management of Rs 21,912 crore at the end of September had posted a profit of Rs 35 crore during 2019-20. The company said it does not want to comment on market speculation. Reliance General Insurance had filed for a share sale in February after the deadline for its previous IPO plan lapsed. Reliance General Insurance also plans to rope in a strategic partner through the stake sale. PRINT Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Independent and transparent Asset monetization process, sources said subscription to our content. 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