Reliance General registers 30 per cent rise in Q1 net profit at Rs 57 cr

New Delhi: Reliance General Insurance today reported a rise of 30 per cent in its net profit at Rs 57 crore in first quarter of this fiscal, ended June.

The gross premium was Rs 1,571 crore, a year-on-year increase of 23 per cent, Reliance General Insurance (RGI) said in a release.

The investment book increased to Rs 8,261 crore, up by 20 per cent from a year ago.

The online channel registered 32 per cent growth in gross premiums collected during the quarter, it said.

"We have witnessed growth of 23 per cent in Q1 FY19 (vis-a-vis industry growth of 12 per cent). The net profit rose by 30 per cent," said Rakesh Jain, ED & CEO, Reliance General Insurance Company.

A wholly-owned subsidiary of Reliance Capital, RGI offers motor, health, home, property, travel, marine and other speciality products.