Press Esc to close
Monday 29 August 2016
News updated at 2:08 AM IST
Weather
Max: 28.7°C
Min : 19.9°C
In Bengaluru
Generally cloudy

Religare Health Insurance mulls expansion

S V Krishnamachari, Jan 27, 2013, Bangalore

The health insurance arm of Religare group, Religare Health Insurance, collected Rs 23 crore in premium in seven months of entering the business in July 2012 covering 94,000 lives and has lined up a slew of products and expansion in the coming two to three years.

The President and COO of the company, Nitin Jain, told Deccan Herald, “We have planned to introduce products in critical illness, maternity and lifestyle-related categories, and will be opening about 30 branches across India as part of our expansion.” The company’s presence in Karnataka comprises four branches including one in Bangalore.

Its insurance cover extends to treatment undertaken at about 1,900 hospitals spread over 254 cities. The health insurance market, according to estimates, is about Rs 15,000 crore and growing at a compounded annual growth rate of about 25 per cent annually.

“With healthcare costs going up by about 15 per cent in India every year, the overall market offers good growth opportunities,” he said.

The growth will also be fuelled by increase in awareness in the next few years, as there is a definitive trend towards younger people taking to health insurance. “The average age of insured these days is between 35-40 years, which augurs well for health insurance in India,” Nitin said.

The loss ratio, according to Nitin, is relatively high in group insurance schemes, at almost 98 per cent, while in the individual insurance segment, it is relatively lower at about 70 per cent.

Religare Health Insurance Company Ltd is jointly promoted by Religare Enterprises, and public sector lenders Union Bank of India and Corporation Bank.


Go to Top

Photo Gallery
Bollywood actress Sonakshi Sinha during her forthcoming movie Akira's promotion in Mumbai...

Bollywood actress Sonakshi Sinha during her forthcoming movie Akira's promotion in Mumbai...

Ranbir Kapoor displays creations by Kunal Rawal during the Lakme Fashion Week in Mumbai...

Ranbir Kapoor displays creations by Kunal Rawal during the Lakme Fashion Week in Mumbai...

Bollywood actor Shilpa Shetty displays the creation of fashion designer Anushree Reddy...

Bollywood actor Shilpa Shetty displays the creation of fashion designer Anushree Reddy...

Pooja Hegde displays the creation of fashion designers Monica Shah and Karishma Swali...

Pooja Hegde displays the creation of fashion designers Monica Shah and Karishma Swali...

Dilip Tirkey aand sand artist Sudarshan Patnaik unveil a jersey in front of a sand image...

Dilip Tirkey aand sand artist Sudarshan Patnaik unveil a jersey in front of a sand image...

An Idol Lord Ganesha being boarded into a train in Mumbai...

An Idol Lord Ganesha being boarded into a train in Mumbai...

Former South African cricketer Jonty Rhodes enjoys surfing at Kovalam beach near Chennai...

Former South African cricketer Jonty Rhodes enjoys surfing at Kovalam beach near Chennai...

Pascal Mueller competes in the stone put during the Swiss Alpine Wrestling and Herdsman Festival...

Pascal Mueller competes in the stone put during the Swiss Alpine Wrestling and Herdsman Festival...

Mercedes driver Nico Rosberg of Germany gives the thumbs up as he holds his trophy...

Mercedes driver Nico Rosberg of Germany gives the thumbs up as he holds his trophy...

Bollywood Actor Bipasha Basu displays the creation of fashion designer Sanjukta Dutta collection...

Bollywood Actor Bipasha Basu displays the creation of fashion designer Sanjukta Dutta collection...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523