Reliance Life Insurance Company Limited or RLIC is among the top most life insurance providers in the Indian market, in regard to individual as well as new business WRP (weighted received premium). Also, it is the biggest non-bank assisted private insurance company by far, with more than 10 million policyholders and a robust product distribution system comprising over 800 branches and 100000 advisors, as per 31st March 2015 figures. The claim reimbursement ratio of the company is 91%, as per the figures of 30th June 2015.
RLIC is a part of Reliance Capital (Reliance Group) and holds 5% of the market share. The latter is one of the leading private sector financial services providers of India. Nippon Life Insurance Company held 26% interest of the company in the equity share capital, effective since 7th October 2011. RLIC is known for the range of services it offers that includes children, protection, investment and retirement plans.