mumbai japanese insurer nippon life insurance will increase its stake in the anil ambanicontrolled reliance groups reliance life insurance co and reliance capital asset management ltd in the current financial year pursuant to the increase in fdi limits reliance capital is now at an advanced stage of discussions with nippon life for an increase in their stake from 26 to 49 in reliance life said ambani chairman of reliance capital nippon life insurance is also actively engaged in raising its stake in reliance capital asset management from 35 to 49 at a higher valuation than the last round in the last round nippon life had bought 9 stake in reliance mutual for rs 657 crore valuing the company at rs 7300 crore in 2012 the japanese insurer had acquired 26 in the company for rs 1450 crore the business had asset under management of rs 144 lakh crore at end of june quarter