New Delhi: Reliance Health Insurance
(RHI), an ADAG group firm, on Thursday said that it will transfer its
health insurance portfolio covering all financial assets and
policyholder liabilities to Reliance General Insurance (RGI).
process is being undertaken in consultation with the Insurance
Regulatory & Development Authority of India (IRDAI) and has been
approved by the regulator," Reliance Capital spokesperson said.
ADAG flagship Reliance Capital is the promoter company of Reliance
Health Insurance (RHI) and Reliance General Insurance (RGI).
official spokesperson said that there will be no impact on policyholders
due to the proposed transition which will begin from November 15, and
customers will continue to avail the same benefits as per policy terms
"Further, the process of amalgamation of RHI with
RGI is being taken up and will be completed in due course. The decision
has been taken in the best interest of policyholders and we are fully
committed to servicing our customers," the company official said.
official claimed that RGI is one of the leading general insurance
players in India with a strong customer service network. Further, it has
demonstrated strong financial performance over the last few years and
achieved gross direct premium of Rs 6,252 crore and profit after tax of
Rs 212 crore in the financial year 2018-19.