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Anmol Ambani on 'Big Indian Dream' at 31st Reliance Capital AGM: 'Together we are digital, disruptive, dreamers'

Anmol Ambani on Tuesday addressed shareholders at 31st annual general meeting (AGM) of Reliance Capital, the financial services arm of the Anil Ambani-led Group.
Written by: India TV Business Desk Mumbai September 26, 2017 17:20 IST
India TV Business Desk

Addressing, at the 31st annual general meeting (AGM) of Reliance Capital, the financial services arm of the Anil Ambani-led Group, Anmol Ambani on Tuesday said the company will make the 'Big Indian Dream' a reality. Addressing shareholders, Ambani said the company has the opportunity to "design the financial future of India."

"Together we are digital; we are disruptive; we are dreamers," Amban, who is the Executive Director of Reliance Capital, said. 

"I look forward to receiving your support, guidance, and blessings to make Reliance Capital one of the most innovative, influential & revolutionary financial services’ companies in India," he said. 

He also announced that Reliance Capital was planning to launch a standalone health insurance company. Announcing the new venture, Ambani said the firm has already received round 1 approval from the IRDA.

"To create retail focus we are setting up a standalone health insurance company. We have already received round one approval from the regulator IRDAI. We expect to become operational beginning early next year," Ambani said while addressing the shareholders at his.

He said the move is aimed at creating a retail focused entity in this space. 

The company already offers health insurance products and the move to have a standalone offering is to increase retail presence in the already cluttered mediclaim segment. 

Jr. Ambani said the company is actively exploring new age technologies like blockchain and artificial intelligence in this financial services verticals and the company has already deployed IoT (Internet of Things) solutions across few use cases and are seeing great results. 

"Digital is going to help us bridge the gap between customers' expectations and service delivery. We will not only match their expectations but surpass and delight them," he said. 

On Reliance Home Finance, which was listed last week, he said the focus going forward will be on affordable housing. 

He said the public issue of Reliance General Insurance is on course and the listing will take place in the current financial year itself. 

Claiming that Reliance Capital is in a leadership position across all its business, Ambani said the aim is to be ranked in the top 3 within their respective industries in the near future. 

He said Reliance AMC is already the No.1 asset manager in the country with an asset under management (AUM) of around Rs 3.5 trillion and has one of the highest retail AUMs amongst mutual funds.