Reliance Life Insurance Company, part of Reliance Capital, said it has appointed Anup Rau as the new CEO of the company with immediate effect. Rau succeeds Malay Ghosh, President and Executive Director, Reliance Life Insurance.
Reliance Life Insurance is targeting over 25 per cent growth in its new business premium at Rs 2,300 crore in the current fiscal, according to a senior official. The company expects new business premium of Rs 2,300 crore in 2012-13, as against Rs 1,809 crore collected in the last fiscal.
Taking cue from its Japanese partner Nippon Life's strategy, India's Reliance Life is introducing fixed salary for insurance advisors to reduce attrition and to further improve customer services.
Private sector insurer Reliance Life today said it has been approached by some banks for partnership based on equity-participation in the company and it was open to exploring such opportunities.