Reliance Life Insurance
  • Our Founder
  • About Reliance Life
  • Mission, Vision & Values
  • Leadership Team
  • Milestones
  • Public Disclosures
  • Media Centre
Dhiru Bhai
Few men in history have made as dramatic a contribution to their country's economic progress as did the founder of Reliance, Shri. Dhirubhai H. Ambani. Fewer still have left behind a legacy that is more enduring and timeless.

As with all great pioneers, there is more than one unique way of describing the true genius of Dhirubhai: the corporate visionary, the unmatched strategist, the proud patriot, the leader of men, the architect of India's capital markets, and the champion of shareholder interest.

But the role Dhirubhai cherished most was perhaps that of India's greatest wealth creator. In one lifetime, he built from scratch, India's largest private sector enterprise.

When Dhirubhai embarked on his first business venture, he had a seed capital of only about US$ 300 (around Rs. 14,000). Over the next three and a half decades, he converted this fledgling enterprise into a 60,000 crore colossus—an achievement which earned Reliance a place on the global Fortune 500 list, the first ever Indian private company to do so.

Dhirubhai is widely regarded as the father of India's capital markets. In 1977, when Reliance Textile Industries Limited first went public, the Indian stock market was a place patronised by a small club of elite investors which dabbled in a handful of stocks.

Undaunted, Dhirubhai managed to convince a large number of first-time retail investors to participate in the unfolding the Reliance story and put their hard-earned money into the Reliance Textile IPO, promising them in exchange for their trust, substantial return on their investments. It was to be the start of one of the greatest stories of mutual respect and reciprocal gain in the Indian market.

Under Dhirubhai's extraordinary vision and leadership, Reliance scripted one of the greatest growth stories in corporate history anywhere in the world, and went on to become India's largest private sector enterprise.

Throughout this amazing journey, Dhirubhai always kept the interests of the ordinary shareholder above all else; in the process making millionaires out of many of the initial investors in the Reliance stock, and creating one of the world's largest shareholder families.

Reliance Life Insurance Company (RLIC)

is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry. The company has over 9 million policy holders with a strong distribution network of over 1200 branches with over 100,000 agents as of March 31, 2013. Reliance Life offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans.

As of March 31, 2013, the Total Premium (net of re-insurance) was Rs. 4,015 crores, whereas new business premium stood at Rs. 1,377 crores. The company achieved a profit of Rs. 380 crores. The company sold 7.6 lakh policies during 2012-13 with total managed funds valuing to Rs.18,189 crores, through a wide network of distribution with 1,230 offices and over 100,000 advisors.

Rated amongst the Top 3 Most Trusted Service Brands in the Insurance Category, the company aims to emerge as a transnational life insurer of global scale and standards.

Reliance Life Insurance is a part of Reliance Capital of the Reliance Anil Dhirubhai Ambani Group. Reliance Capital is one of India's leading private sector financial services companies, and ranks among the top private sector financial services and non-banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services. Reliance Group also has presence in Communications, Energy, Natural Resources, Media, Entertainment, Healthcare and Infrastructure. Nippon Life Insurance Company acquired 26% interest in equity share capital of the Company effective October 7, 2011 subsequent to receipt of all regulatory approval.

Nippon Life Insurance (26% share), also called Nissay, is Japan's largest private life insurer with revenues of Rs. 346,834 crore (US$ 80 Billion) and profits of over Rs. 12,199 crore (US$ 3 billion). The Company has over 14 million policies in Japan, offers a wide range of products, including individual and group life and annuity policies through various distribution channels and mainly uses face-to-face sales channel for its traditional insurance products. The company primarily operated in Japan, North America, Europe and Asia and is headquartered in Osaka, Japan. It is ranked 81st in Global Fortune 500 firms in 2011.

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Our Vision

To be a Company people are proud of, trust in and grow with; providing financial independence to every life we touch.

Board of Directors
Rajendra Chitale, Independent Director

Rajendra Chitale is an independent Director at Reliance Life Insurance Company Limited.

He is the Managing Partner of M/s. M.P. Chitale& Associates, India's leading financial boutique specialist with converging expertise in financial structuring, legal, tax and regulatory advice,Government of Maharashtra. Rajendra serves as independent director on the boards of the National Securities Clearing Corporation Limited, Asset Reconstruction Company (India) Limited, Reliance Capital Limited, Ambuja Cements Limited, Hinduja Global Solutions Limited, Hinduja Ventures Limited, Ishaan Real Estate Plc, Reliance General Insurance Company Ltd. He is a member of the Insurance Advisory Committee of the IRDA and the Advisory Committee on Regulations, Competition Commission of India. He has served on the board of LIC, UTI, NSE, SIDBI, and has served as a member of Takeover Panel of SEBI, the Company Law Advisory Committee, Government of India, the Investor Education and Protection Fund, Government of India, and the Maharashtra Board for Restructuring of State Enterprises.

Rajendra is an eminent Chartered Accountant and law graduate.

Upendra Joshi, Independent Director

Upendra Joshi is an Independent Director of Reliance Life Insurance Company Limited.

He is a partner of the corporate and infrastructure team of Khaitan& Co. He has valuable experience in all aspects of law and documentation relating to infrastructure including power, oil & gas, telecom, mining, ports, airports and project financing and has headed several large infrastructure related matters. He is also experienced in aspects relating to nuclear energy as well as mergers & acquisitions, securities laws, India-centric AIM listings, privatisation of government businesses, in foreign investment, joint ventures and foreign collaborations and also advised in dispute resolution and conveyance related matters. He is instrumental in some notable M&A transactions he has advised on include NTT DoCoMo's investment in Tata Teleservices and, Vedanta on acquisition of Sesa Goa.

Upendra holds a degree in law and is a Solicitor.

Takeshi Furuichi, Non Executive Director

He is a Representative Director & Senior Managing Executive Officer and Chief Investment Officer (oversees the Investment and International Business) of Nippon Life Insurance Company, Japan. He joined Nippon Life Insurance Company in the year 1977 and has assumed leading roles in various fields including securities investment, financial planning, risk management, customer service, and international business. He currently serves as Director on the Boards of foreign subsidiaries including Nippon Life Insurance Company of America, NissaySchroders Asset Management Europe Limited, and NissaySchroders Asset Management Asia Limited.

Takeshi holds a degree of Bachelor of Arts in Economics from University of Tokyo and Master of Business Administration from Wharton School, University of Pennsylvania.

Soumen Ghosh, Non Executive Director

Soumen Ghosh is currently the Group President of Reliance Capital Limited and Non – Executive Director of Reliance Life Insurance Company Limited.

He has an experience of around 22 years in the areas of General Insurance and Life Insurance in India and abroad. Soumen was previously responsible for the overall Allianz operations in India and Middle East. He has worked as the Chief Executive Officer of Bajaj Allianz Life Insurance Company and Country Manager, Bajaj Allianz, India. At Bajaj Allianz Life Insurance Company, Sam was attributed with bringing new strategic initiatives on distribution and at the same time launching customer need based flexible and simple products designed for India.

Soumen is a member of the Institute of Chartered Accountant in England & Wales and Institute of Chartered Accountant of Australia.

Amit Bapna, Non Executive Director

Amit Bapna is currently the Chief Financial Officer at Reliance Capital Limited and Non Executive Director of Reliance Life Insurance Company Limited.

He has been with the Reliance Group since 1999. In his existing role, he provides financial direction, oversight and control for Reliance Capital Limited and its group companies and further provides strategic leadership for Corporate Treasury. He has over thirteen years of experience in varied business environments e.g. manufacturing and financial services. He has earlier worked in the capacity of Chief Financial Officer of Reliance Capital Asset Management Limited and Reliance Consumer Finance where he played a key role and had been a significant contributor to the exponential growth of the business bringing operational & process disciplines. Earlier still, he had worked in the Corporate Treasury of Reliance Industries Limited.

Amit is a Chartered Accountant.

Malay Ghosh, Non Executive Director

Malay Ghosh has been associated with Reliance Life for over 5 years and is the erstwhile Executive Director and President of Reliance Life. His able leadership played a pivotal role in steering the company on the growth path despite challenging market conditions and ensured remarkable success.

His career spans over 29 years experience in the Life Insurance Industry. He started his career with LIC where he spent 17 years followed by 7 years at Bajaj Allianz Life Insurance as Head of Sales, where he spearheaded the company on the growth path with his assertive Sales and Distribution acumen.

Malay holds a Masters degree in Statistics from the Indian Statistical Institute, Kolkata with specialization in Statistical Quality Control & Operations Research.

Top Management Team-Reliance Life Insurance
Anup Rau, Chief Executive Officer and Executive Director
Dhiru Bhai

Anup Rau is the Chief Executive Officer and Executive Director of Reliance Life Insurance Company Limited, one of the largest life insurance companies in India. Reliance Life is a joint venture between Reliance Capital Limited and Nippon Life. His key focus areas at Reliance Life include ensuring a sustainable and profitable growth for the Company with a vision to become the most admired Life Insurance Company in the Country and to strengthen the company's partnership with Nippon Life by adopting their long sustaining values and singular focus on customers. He brings tremendous amounts of energy and belief in ideas that would help realise this vision.

Prior to joining Reliance Life, Anup was Head – Sales & Distribution at HDFC Life Insurance. Under his leadership at HDFC Life, the company enjoyed a consistent Top 3 position, achieved amongst the lowest cost of acquisition in the industry, dominated the Bancassurance channel, fostered the Agency distribution channel that scaled to the top quartile and introduced new distribution channels like Broker and International Business, which also grew to enjoy leadership positions in the industry.

Anup has over 17 years of experience in the Financial Services and FMCG sectors. He started out in the life insurance industry with ICICI Prudential, where he spent almost a decade. He began as a Branch Manager – Agency, and worked across geographies in various key positions in Sales, Sales Planning & Strategy since their formative years. He was Senior Vice President – Agency Distribution for West and South before he became Head – Bancassurance& Alliances.

A philanthropist by nature, Anup is passionate about Corporate Social Responsibility (CSR) and strongly believes in giving back to the community.

Anup is an Economics Graduate from University of Delhi and holds a Masters in Management Studies from Mumbai University.

Dhiru Bhai
Srinivasan Iyengar, Chief Operating Officer

Srinivasan Iyengar is the Chief Operating Officer of Reliance Life Insurance Company.

He has over 26 years of experience in Operations, Customer Service and Technology. His key focus areas at Reliance Life are integrating systems and processes for delivering operational excellence, customer value proposition and developing cost efficient service delivery platform.

Prior to joining us, Srinivasan was with AegonReligare Life Insurance where in capacity of the COO, he led several projects to achieve Service Excellence and Operational Efficiencies to support business strategy.

He has also been associated with companies like LIC, ICICI Prudential, Prudential Malaysia & TCS in various capacities.

Srinivasan has done his Graduation in Commerce from Mumbai University and an advanced course in Systems Management & Technology.

Dhiru Bhai
Andleeb Rabbi, Chief Human Resources Officer

Andleeb Rabbi is the Chief Human Resources Officer and is responsible for providing leadership for Human Resources, Administration and Infrastructure functions of Reliance Life Insurance Company.

Andleeb is one of the founding team members of Reliance Life Insurance and has been involved from the acquisition of AMP Sanmar days. He has been with the Reliance Capital and worked for Reliance Commercial Finance and Home Finance as their Head of HR and Admin. Beginning his career as a management trainee in Elbee-UPS, he subsequently worked with ICICI Bank and Hutch-3G in the Human Resource function.

Andleeb holds a Management degree in Human Resources from Symbiosis Institute of Business Management - Pune, a Diploma in Labour Laws from Pune University and has over thirteen years of experience post management degree.

Dhiru Bhai
S V Sunder Krishnan, Chief Risk Officer

S V Sunder Krishnan is the Chief Risk officer for Reliance Life Insurance and is responsible for overseeing Risk Management, Internal Audit and Compliance functions at Reliance Life Insurance.

Sunder came with 23 years of experience and knowledge in Internal Audits, Compliance, Assurance Consulting and Risk Management. He has worked for various leading organizations such as DSP Merrill Lynch, ING Vysya, Credit Lyonnais, Standard Chartered, Bank International Indonesia, Ernst & Young and Delloitte at senior and middle management positions with exposure to businesses and operations in more than 12 countries.

Sunder is a qualified FCA, CISA, and CCSA. He is currently the advisor to the Board of Information Systems Audit Control Association (ISACA-USA), Mumbai Chapter. He was president of Information Systems Audit Control Association (ISACA-USA), Mumbai Chapter for the year 2007-08.

Dhiru Bhai
Sunil Agrawal, Chief Financial Officer

Sunil Agrawal is the Chief Financial Officer at Reliance Life Insurance.

In his role as CFO he provides effective leadership to the finance function and plays a key role in managing the affairs of the company.

Sunil has over 14 years of experience, of which 13 years of experience comes from the insurance industry. Sunil joined Reliance life Insurance in December 2005 after a 5 1/2 years stint with ICICI Prudential Life Insurance in various roles right from the inception of the company including compliance, special projects, financial control and finance operations.

He is a B.E. Computer Science, a Chartered Accountant and DISA (ICAI).

Dhiru Bhai
Rajesh Dalmia, Appointed Actuary

Rajesh Dalmia is the Appointed Actuary and has the overall responsibility for statutory reporting, risk appetite, pricing, valuation, reinsurance, etc.

Rajesh joins us from Ernst & Young, where he was an Associate Director. He has more than a decade of experience and he has worked for companies like Birla Sun Life Insurance, Watson Wyatt and AMP Sanmar in various capacities. Rajesh is a graduate in Statistics from Indian Statistical Institute, MBA from IISWBM, Fellow from IIM-Bangalore, FIAI from Institute of Actuaries of India and FIA from Institute and Faculty of Actuaries, UK.

Dhiru Bhai
Manoranjan Sahoo, Head - Agency

Manoranjan Sahoo is the Head- Agency at Reliance Life Insurance Company Limited.

He started his career in Pharma before Joining LIC as an Administrative officer. Manoranjan has 20 years of experience in insurance industry. He has in-depth knowledge of Life Insurance Business by virtue of working in different functions at Life Insurance Corporation of India. His core competence is setting up of new business.Prior to joining the Company, he was with Bajaj Allianz Life Insurance Company Limited as Zonal Head – Sales (North & Central).

Manoranjan holds a Masters Degree in Science from Utkal University. He has undergone many Leadership development courses at ISB,IIM(K) & Michigan University.

Dhiru Bhai
Ramesh Viswanathan, Chief – Bancassurance & Partnership Distribution

Ramesh Viswanathan  is the Chief – Bancassurance & Partnership Distribution of Reliance Life Insurance Company Limited, one of the largest life insurance companies in India. Reliance Life is a joint venture between Reliance Capital Limited and Nippon Life. He heads the Alternate sales channels which include Bancassurance, Third Party Distribution, Direct Marketing, Group, International & Online businesses.

Prior to joining Reliance Life, Ramesh was Senior Vice President-Sales & Distribution at ICICI Prudential Life Insurance. In his 8+ years stint at ICICI Prudential, he has worked in leadership roles across different channels such as Tied Agency, Corporate Agency/Brokers and Proprietary Sales Force. Ramesh is the recipient of many awards, including the ICICI group leadership award on 2 occasions.

Ramesh has over 16 years of work experience across categories for companies such as Castrol India Limited and Bharti Cellular Limited in multiple geographies prior to joining the Life Insurance industry.

Ramesh is an Industrial Engineering Graduate from University of Pune and holds a Post Graduate Diploma in Management Studies from K.J. Somaiya Institute of Management Studies, Mumbai.

Dhiru Bhai
Alok Kalra, Head - Marketing
Alok Kalra is the Head – Marketing of Reliance Life Insurance Company Limited, one of the largest life insurance companies in India. Reliance Life is a joint venture between Reliance Capital Limited and Nippon Life. He heads Marketing, that includes the functions of Brand, Market Research, PR, Digital, Channel Marketing and Internal communication. His vision is to create a strong preference for Reliance Life by defining a service-oriented brand culture.

Prior to joining Reliance Life, Alok was Assistant Vice President – Brand, PR & Digital at IDBI Federal Life Insurance. Having joined at inception, the various functions were set up, a product-led strategy and consistent communication campaigns with a signature style of humour that helped the company grow in awareness and consideration. In PR, IDBI Federal featured in the top 5 for coverage, consistently ahead of market share. He set up the online channel at IDBI Federal and conceptualized many innovative digital properties and viral initiatives. Prior to IDBI Federal, he headed Brand and Communication for Health and Child businesses at ICICI Prudential Life Insurance.

Alok has over 14 years experience in Marketing and Communication. He started his career with Advertising, having worked across leading advertising agencies like Ogilvy and Contract across categories, managing award-winning advertising campaigns for leading brands like Coca-Cola, HSBC, Cadbury, Bajaj Auto and Castrol for over 8 years.

Alok is a Commerce Graduate from Mumbai University and holds a Masters in Marketing Management from Narsee Monjee Institute of Management Studies, Mumbai.
Sep 12
RLIC's Boundaries for Books Campaign won the 'Silver' at the Indian Digital Media Awards (IDMA) 2012, under Best Integrated Campaign Social Cause and Best Use of Social Network Social Cause
Apr 12
Largest Private Life Insurance in terms of Number of Policies for two consecutive years as of 31st March 2012
Apr 12
A wide network of 1230 branches and over 100,000 advisors
Apr 12
Over 9 million policies
Apr 12
RLIC continues to be amongst the foremost Life Insurance companies in India to be certified ISO 9008:2001
Apr 12
Winner of "Best Non-Urban Coverage" Award at Indian Insurance Awards 2011
Apr 12
Amongst the top 3 Most Trusted Service Brands in the Insurance category as per the Brand Equity's 'Most Trusted Service Brands 2011' Survey.

Daily Reconciliation Of ULIP Portfolio

Life / Group Policy Admin System Investment Management System
Notes :
1. Opening units as per Life / Group Policy Admin System of previous NAV day [refer (b)] shall reconcile with Opening Units as per Investment Management System [refer (h)]
2. Additional fund or Units created or redeemed for the day in Investment Management System [refer (i) and (j)] shall reconcile with Net Amount or Units collected or redeemed as per Life / Group Policy Admin System [refer (c) and (d)]
3. Closing units as per Life / Group Policy Admin System of previous NAV day [refer (f)] shall reconcile with Closing Units as per Investment Management System [refer (n)]
4. NAV per unit declared [refer (O)] must reconcile with NAV per unit uploaded on Life Insurance council's website
5.The unit movements of day "T" in Life/Group Admin System shall flow into Investment Management System with a maximum time lag of 1 working day i.e T+1

CurrentMonthly Reconciliation - ULIP Portfolio , Sep 2013(283 KB)downloadpdf
ArchiveMonthly Reconciliation - ULIP Portfolio , Aug 2013(271KB)downloadpdf
ArchiveMonthly Reconciliation - ULIP Portfolio , Jul 2013(288 KB)downloadpdf
ArchiveMonthly Reconciliation - ULIP Portfolio , Jun 2013(258 KB)downloadpdf
ArchiveMonthly Reconciliation - ULIP Portfolio , May 2013(250 kb)downloadpdf
ArchiveMonthly Reconciliation - ULIP Portfolio , Apr 2013(250 kb)downloadpdf

Public Disclosures


"The information displayed is based on the yearly audited statement and should be read in conjunction with the audited financials of the Company for the respective year"



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