Reliance General Insurance, a subsidiary of Reliance Capital, announced its financial results for the quarter ended June 30, 2017. Profit After Tax rose to Rs 440 million (USD 7 million) a YoY increase of 22%.

Gross Written Premium was Rs 12.78 billion (USD 197 million) a YoY increase of 41%.

Combined Ratio improved from 114% in Q1 FY17 to 104% in Q1 FY18. Investment Book increased to Rs 68.88 billion (USD 1.1 billion) a YoY increase of 22%. Online channel registered 47% growth in premium collected and 52% growth in number of policies sold during the quarter.

Reliance General Insurance has 8.5% market share in the private sector.

Reliance General Insurance received mandates for Pradhan Mantri Fasal Bima Yojna in five states viz., Maharashtra, West Bengal, Chhattisgarh, Uttar Pradesh and Jammu & Kashmir. The Company is also authorized under the Restructured Weather Based Crop Insurance Scheme in Uttar Pradesh and Maharashtra.

''The company continues to demonstrate robust business growth across all lines of business, along with strong improvement in bottom line. The listing is a significant wealth creation opportunity for retail investors and will enable them to participate in this high growth and profitable journey,'' said Rakesh Jain, ED & CEO, Reliance General Insurance.

Shares of the Reliance Capital gained Rs 8.8, or 1.34%, to trade at Rs 667.30. The total volume of shares traded was 89,262 at the BSE (10.32 a.m., Thursday).