Reliance Capital (RCL), a part of Anil-Ambani led Reliance Group, on Wednesday announced plans to carve outits retail health insurance business, from its general insurance business, into a standalone subsidiary. The Board of Directors of Reliance General Insurance Company (RGIL), a subsidiary of RCL, has approved this proposal, subject to necessary IRDA and other approvals. Reliance Health Insurance, the proposed new company, will be a wholly owned subsidiary of Reliance Capital. Ravi Viswanath is the proposed CEO of the new company.