new delhi reliance capital today said its general insurance business is expected to close fullyear profits in the current fiscal 201314 after swinging to fourth quarter profits in the last threemonth period reliance general insurance rgi a leading private sector nonlife insurer clocked a profit of rs 17 crore in the fourth quarter ended march 31 2013 as against a loss of rs 248 crore in the same quarter a year ago this was the second consecutive quarter for reliance general during 201213 in which the company made profit reliance general insurance part of anil ambaniled financial services major reliance capital had posted rs 16 crore profits in octoberdecember period of the last fiscal we are expecting the general insurance business to show a profit for the whole financial year we expect gross written premium to at least grow by over 20 per cent reliance capital ceo sam ghosh told pti the gross written premium for the year ended march 31 2013 was rs 2036 crore as against rs 1748 crore for the year ended march 31 2012 a yearonyear increase of 16 per cent going forward we aim to show further improvement in profitability by further optimising our product portfolio to other favourable mix and increasing our commercial lines of business reliance general insurance ceo rakesh jain said our focus in this business is to write profitable business and improve the combined ratio further he added helped by improved performance in the last two quarters of 201213 rgi also narrowed the loss for the full financial year in 201213 to rs 93 crore from a loss of rs 342 crore in the year ended march 31 2012 during the year 201213 the company invested rs 155 crore into the business while the total capital invested in the business was at rs 1747 crore at the end of march 31 2013 rgis investment book stood at rs 3252 crore a yearonyear increase of 20 per cent reliance general insurance offers insurance solutions for auto health home property travel marine commercial and other speciality products rgi is amongst the leading private sector general insurance companies in india the company has a distribution network 126 branches and about 10700 intermediaries and a private sector market share of 7 per cent in terms of gross written premium of the indian private sector general insurance industry reliance capital is looking to induct a strategic partner in its general insurance business by the yearend with a possible sale of a 26 per cent stake in reliance general insurance