new delhi reliance life insurance has recorded a whopping 140 per cent jump in the first quarter net profit to rs 19 crore in the current financial year in the threemonth period ended june 30 2012 the company recorded a net profit of rs 19 crore as against rs 8 crore in the yearago quarter reliance life is part of anil ambaniled reliance groups financial services arm reliance capital ltd reliance lifes total premium net of reinsurance in the last quarter was rs 810 crore while total funds under management stood at rs 18586 crore as on june 30 2012 its parent company said while announcing its quarterly results reliance life recorded its first fullyear net profit at rs 373 crore for the fiscal ended march 31 2012 it had sold over one million policies in 201112 and garnered a total premium of rs 5498 crore in that year the total number of insurance agents at reliance life stood at about 12 lakh a decline of onethird from the yearago levels as part of the companys focus on improving productivity and performance of agents reliance life also helped reliance capital post a consolidated net profit of rs 45 crore for the quarter ended june 30 2012 representing an increase of 30 per cent reliance capitals consolidated total income rose 12 per cent to rs 1676 crore in the quarter which was also helped by increase in topline for commercial finance and general insurance businesses nippon life asias largest private life insurer and seventh biggest globally with an asset size of usd 650 billion has acquired a 26 per cent stake in reliance life for rs 3000 crore recently nippon life insurance companys president yoshinobu tsutsui had said it will put to use all its resources to help its indian partner become the countrys top life insurance company while staterun lic is the countrys largest life insurer overall reliance life insurance has been the largest private life insurance company in terms of number of policies over nine million for two consecutive years as on march 31 2012 however reliance life was the countrys seventh largest private life insurer in terms of total new business premium and sixth in terms of individual new business premium for the last fiscal ended march 31 2012 nippon life has also acquired 26 per cent stake in rcam reliance groups mutual fund business for about rs 1500 crore