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The Actuary The magazine of the Institute & Faculty of Actuaries

Reliance Capital IPO

Reliance Capital, part of the Reliance group controlled by billionaire industrialist Anil Ambani, is planning to float on the Indian stock exchange. The listing of Reliance Life Insurance would be the first for a life or general insurer in India.

Reliance Capital bought the life insurance unit of Australian insurer AMP and its Indian joint partner Sanmar four years ago. It owns the insurance unit outright and is therefore permitted to offer up to 26% to foreign investors.

Chief executive Sam Ghosh has recently said that the life unit has total premiums of $1bn and is the fourth largest player in India’s life insurance market.