Project for the establishment of a reinsurance company by Reliance Capital

With a turnover of 374.5 million USD, Reliance Insurance is among the five largest Indian private insurers. A quarter of its revenues are generated by its life class of business, Reliance Life Insurance.

Reliance Capital, the parent company, is now studying the possibility of creating a global reinsurance company. Two options are preferred: to become a Lloyd's syndicate, which would be a window of numerous opportunities for business in various countries, or to establish a company in the special economic zone in Gujarat International Finance Tec.

The authorities have recently developed legislation to promote the development of insurance and reinsurance companies from that area.