Press Esc to close
Tuesday 22 August 2017
News updated at 3:54 AM IST

Religare Health Insurance mulls expansion

S V Krishnamachari, Jan 27, 2013, Bangalore 21:51 IST
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 actors Jacqueline Fernandez and Aditya Roy Kapur walk the ramp during the grand finale...

Bollywood actors Jacqueline Fernandez and Aditya Roy Kapur walk the ramp during the grand finale...

Artists rest at an artisan village in Kolkata on Monday ahead of upcoming Durga Puja...

Artists rest at an artisan village in Kolkata on Monday ahead of upcoming Durga Puja...

Devotees gather to take holy dip at Har ki Paidi on the occasion of Somvati Amavasaya in...

Devotees gather to take holy dip at Har ki Paidi on the occasion of Somvati Amavasaya in...

MD and CEO, Mercedes-Benz India, Roland Folger and AMG driver Christian Hohenadel during the...

MD and CEO, Mercedes-Benz India, Roland Folger and AMG driver Christian Hohenadel during the...

Indian women's cricket team member Veda Krishnamurthy being felicitated by CII Sourthern Region...

Indian women's cricket team member Veda Krishnamurthy being felicitated by CII Sourthern Region...

A view of Salt Lake Stadium, officially known as Vivekananda Yuba Bharati Krirangan being...

A view of Salt Lake Stadium, officially known as Vivekananda Yuba Bharati Krirangan being...

The Golden Temple being decorated with flowers on the eve of the anniversary of the installation...

The Golden Temple being decorated with flowers on the eve of the anniversary of the installation...

Villagers use a makeshift bamboo bridge to cross a flooded locality at Itahar village in...

Villagers use a makeshift bamboo bridge to cross a flooded locality at Itahar village in...

web series Netflix's Sacred Games in...

web series Netflix's Sacred Games in...

A butterfly on a flower at a park in Guwahati on...

A butterfly on a flower at a park in Guwahati on...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.