Money & Banking

Reliance Life to add 20,000 agents during next fiscal

G Naga Sridhar Hyderabad | Updated on March 24, 2015 Published on March 24, 2015
Chief Agency Officer, Manoranjan Sahoo

Chief Agency Officer, Manoranjan Sahoo. File Photo

Reliance Life Insurance Company Ltd will be adding 20,000 agents to expand its distribution network during next financial year.

"We have one lakh agents now. There will be a net addition of 20,000 agents during next year,''’ its Chief Agency Officer, Manoranjan Sahoo, told newspersons at a press conference here on Tuesday.

The Insurance Regulatory and Development Authority of India (IRDAI) has earlier said that it would remove the mandatory training norms for agents before they take the exam for getting licence from April 1, 2015.

The move will augur well for the industry and individual agents as it will make agent recruitment easier, he added.

On the company's business, Sahoo said Reliance Life's new business premium was at Rs 1,000 crroe in 2014 and was growing at 10 per cent.

The company, an arm of Reliance Capital Ltd, has also opened its first library in Nalgonda district of Telangana in partnership with Room to Read.

It plans to open about 100 libraries in Government schools as part of the corporate social responsibility initiative across the country.

Published on March 24, 2015

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