Get <strong>₹5 Lac</strong> Health Insurance starts <strong>@ ₹200/<span>month*</span></strong>
Get ₹5 Lac Health Insurance starts @ ₹200/month*
Get ₹5 Lac Health Insurance starts @ ₹200/month*
250+ Plans 18 Insurance Companies
₹ 5 Lakh Coverage @ ₹ 10/day
7 Lakh+ Happy Customers

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Av Birla Group Scouts for a Partner to Enter Indian Health Insurance Market

The Indian Conglomerate, AV birla group led by the billionaire Kumarmangalam Birla, is ready and scouting for a partner to enter the higly lucrative Indian Health Insurance market

Mar 7, 2014, Mumbai: The Boston Consulting Group was hired to find and suggest a partner to the AV birla Group for entering the rapidly growing health insurance sector in the country. The AV birla group led by the billionaire Kumarmangalam birla, shall hold 74% stake in this partnership if expectations were to be believed. Sources close to the group divulged that the group is in talks with a South African health insurance company, and the group feels that within general insurance, health insurance has a high potential to grow.


Birla sun life (a Joint venture between, AV birla group and the Canadian insurance company “Sun”), is well known for their life insurance products (including Unit linked plans and Traditional plans). South Africa’s Discovery and US-based Aetna have been trying to spot a local partner to foray into the health insurance market of India, which, as estimates tell would grow 25% in the coming 5 years. According to the FDI rules in the insurance sector, a foreign player can hold a maximum of 26% in an Indian joint venture.

About a quarter of the aggregate non-life insurance business in the country is accounted for by Domestic Health insurance, which amounts to Rs 12,606-crore in numbers. Some of the new entrants in the market are Apollo Munich, Max Bupa, Star Health & Allied Insurance and Religare and ManipalCigna, a joint venture between US-based Cigna and India's TTK Group, which started operations this month, is the latest entrant.

The main focus area of all the standalone health insurance companies is the urban market, riding the growth wave as far as hospitals, clinics and Doctors are concerned. Sources added that the AV birla group has also filed an application for a banking license and if the banking permit is given to the Indian conglomerate then it could be difficult for the group to foray into another financial services venture.

Written By: PolicyBazaar - Updated: 14 December 2020
Search
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

You May Also Want to Know About

Top Maternity Insurance Plans

Top Maternity Insurance Plans

Top Maternity Insurance Plans Maternity or pregnancy is an important phase of life, and one needs to prepare in advance to embrace parenthood. Though rearing a child is an expensive affair and may require good financial backup to meet the requiremen...
Health Insurance Claims Ratio- Things You Should Look Before Buying Health Insurance

Health Insurance Claims Ratio- Things You Should Look Before Buying Health Insurance

There has always been a doubt in customers mind about whether the private company will keep its side of the bargain i.e. it will settle the claim or not. A customer spends premium annually which will cover his medical expenses but there’s always ...
Best Health Insurance Plans for Senior Citizens in 2021

Best Health Insurance Plans for Senior Citizens in 2021

Best Health Insurance Plans for Senior Citizens in 2021 Considering the increasing percentage of medical inflation in India, it has become an absolute necessity to buy adequate health insurance for your loved ones. And if they are your elderly pare...
Covaxin vs. Covishield vs. Sputnik vs. Pfizer: Which one should you get?

Covaxin vs. Covishield vs. Sputnik vs. Pfizer: Which one should you get?

Covaxin vs. Covishield vs. Sputnik vs. Pfizer: Which one should you get? Covaxin vs. Covishield vs. Sputnik vs. Pfizer, the speculation continues regarding the difference between the efficacies of these COVID-19 Vaccines against the Coronavirus. If...
Here’s the Difference between Health Insurance and Mediclaim

Here’s the Difference between Health Insurance and Mediclaim

Here’s the Difference between Health Insurance and Mediclaim Imagine you’re looking for a job change. You get an interview call for a job. What will be your plan of action? Will you get your resume ready and prepare for the interview or you wi...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL