The life insurance industry recorded an overall growth of 26.23% in the first-year premium collection in FY17—the private sector grew by 23.53%. However, three insurers reported negative growth, one amongst them was Reliance Life Insurance Co. Ltd. It reported a negative growth of 32.52%. Ashish Vohra, chief executive officer, Reliance Nippon Life Insurance Co. Ltd, who assumed charge around 7 months ago, spoke with Mint to explain the negative growth and the way ahead. Edited excerpts:
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