Financial services major Reliance Capital Ltd -- part of the Anil Ambani-led Reliance group -- will focus only on financial services while divesting all its non-core investments by March 2018, a top group official has said.
The company will also pursue digital transformation of all its business verticals.
Addressing the analysts here on Thursday, Group Chairman Anil Ambani said: "Reliance Capital will focus only on financial services. All non-core investments to be monetised by March 2018 leading to large capital gains."
He also added value creating consolidation opportunities will be pursued across all the business segments.
According to Anil Ambani, housing, small, medium enterprises and consumer finance will the company's three new growth engines while mutual fund, life and general insurance businesses would pursue higher growth trajectory.
He said, Reliance Capital will focus on health insurance due to favourable demographics and government initiatives.
The company will exit non-core investments in movie exhibition business, film and media services, and radio and TV have already been monetised.
Executive Director Anmol Ambani said Reliance Capital will focus on three Ps -- people, profitability and partnership.
He said the digital transformation journey across existing and new businesses would gain momentum.
There will be focused approach in deploying technology in the B2B and B2C transactions.
Reliance Mutual Fund (RMF) sources around 30 per cent of purchases from digital channels.
Reliance Capital said the Reliance Nippon Life Asset Management (RNLAM) is growing its international distribution network with tie-ups with Nippon Life Insurance and Samsung Asset Management.
A robust retail presence, integrated digital infrastructure and strong focus on alternative investments are amongst the key drivers of RNLAM's future growth, Reliance Capital said.
In the general insurance space too digital has been the centre of entire transformation.
According to Reliance Capital, the general insurance company settles over 10 lakh claims using its digital architecture.
"A diversified growth model with focus on profitability, well-defined digital strategy, additional tie-ups with banks and other alliance partners, and reduction in the combined ratio are amongst the key drivers of RGI's future growth," the company said.
Reliance Capital sees good opportunity to create a high-growth and profitable business in health insurance.
The Reliance Health Insurance (RHI) will have a digital first approach, unlock value through strategic partnerships and profitable growth will be the drivers.
Open architecture in the bancassurance space, productivity enhancement, focus on improved persistency, emphasis on digitisation and a profitable product mix are amongst the key drivers of Reliance Nippon Life Insurance's future growth.
According to Reliance Capital, the life insurance subsidiary over the last one year, has weeded out unprofitable and poor quality business, resulting in right sizing the expense base and corresponding reduction in premium growth.
The embedded value of life insurance business as on September 2016 is Rs 3,074 crore and the persistency of the life policies for the in the nine months of current fiscal is 61 per cent.
On the home finance business the focus will be on tapping the salaried segment, potential for cross-selling and usage of modern analytical tools for collection efficiency.
According to Reliance Capital, it sees good opportunity in all other businesses like commodity exchange, broking and commercial finance.