Reliance Capital Blog

Reliance Capital, India's Berkshire Hathaway

Thursday, March 29, 2007

Reliance Life Insurance gets ISO 9001-2000 certification

Reliance Life Insurance has been accorded the ISO 9001-2000 certificate, making it the second life insurance company in the country to get this quality standard covering all functional areas.

Reliance Life Insurance Company (RLIC), an affiliate of the Anil Ambani Group company Reliance Capital, bagged the certification on account of superior management systems in key areas of quality, customer and process orientation.

RLIC, which was formed after Reliance Capital acquired AMP Sanmar in 2005, today has over 20 products -- 16 of which cater to individuals and the other four provide employees benefits.

send this article to a friendA company communiqué quotes, P Nandagopal, CEO, Reliance Life Insurance, "This certification is a significant milestone in our continuous quest to offer innovative products, outstanding services and improved customer satisfaction."

The certification, awarded by Bureau Veritas, is valid till 2010 subject to certain provisions like operation of RLIC's systems.

Reliance capital arm acquires stake in Nicco

Reliance capital arm Sonata Investments has acquired 14.99% equity stake in electrical cable maker Nicco Corporation, reports Business Line.

The stake was acquired through conversion of 2.675 million optionally convertible cumulative preference shares (OCCPS).

Nicco allotted 10.33 million equity shares of Rs 2 each Mar. 21. This followed the conversion of 2.675 million convertible preference shares (6%) into equity shares, Nicco informed the NSE.

In the last month, Reliance Capital had become a principal agent of global remittance company, Western Union, through its acquisition of Travelmate Services (India) in November 2006. Travelmate has been a principal agent for Western Union for more than 10 years.

Wednesday, March 21, 2007

Reliance Capital bought 1,502,851 shares of Shriram Transport Finance at the BSE

Reliance Capital bought 1,502,851 shares at Rs 120 a share

Tuesday, March 20, 2007

Life insurance

Merrill Lynch has put a buy rating on Reliance Capital with a price target of Rs 850 that's 37 per cent upside to current price. Merrill has valued Reliance Capital's life insurance business at more than $2 billion.

Its consumer finance business has been valued at more than $600 million, the Asset Management Company at about half a billion dollar and the brokerage business has been valued at about $400 million.

Anil has big plans for his power business as well and the buzz is that Reliance Energy representatives might even meet the US Energy Secretary Samuel Bodman who is on three-day visit to India for possible tie-ups with American companies.