Reliance General Insurance net profit rises 12.5% to Rs 315 crore in FY25; eyes growth under new promoter IIHL
The company's Gross Direct Premium (GDP) rose 7.4% year-on-year to Rs 12,548 crore, outpacing the general insurance industry's overall growth of 5.2%, according to a company statement. Net worth also saw a 10.2% rise to Rs 3,429 crore during FY25, PTI reported.
IIHL, backed by the Hinduja Group, acquired Reliance Capital via the insolvency process concluded in March 2025 and subsequently infused Rs 100 crore into Reliance General Insurance in May 2025 to further strengthen the company's financial position and accelerate growth.
During the insolvency resolution process itself, the new promoter had injected Rs 300 crore in capital to stabilise the insurer's operations.
The company's solvency margin stood at 159% at the end of March 2025, comfortably above the regulatory requirement of 150%.
Commenting on the performance, Reliance General Insurance CEO Rakesh Jain said, 'The financial year 2024-25 marked a year of disciplined execution, strategic investments, and resilient growth, even in a dynamic and challenging market environment.'
He added, 'We remain steadfast in our commitment to protecting the aspirations of millions of Indians through innovative and trusted insurance solutions.'
Jain said the successful completion of the Corporate Insolvency Resolution Process (CIRP) of Reliance Capital has opened a 'transformative new chapter' for the company under IIHL's stewardship.
'With IIHL's strong financial backing and proven expertise in financial services, we are confident in our ability to accelerate our growth journey and lead the next wave of innovation in India's general insurance sector,' he added.
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