Considering Indian health insurance sector a good
potential market to grow, the Kumarmangalam Birla-led AV Birla Group is
planning to enter the market. It has appointed Boston Consulting Group to find
a partner to enter in the sector, according to ET.
The Mumbai-headquartered AV Birla Group is already present in the Indian life insurance market through Birla Sun Life Insurance Company Limited (BSLI), a joint venture with Canada-based international financial services company Sun Life Financial Inc.
According to the report, the group is in talks with a South African health insurance company. Some large international health insurance players such as South Africa -based Discovery and US-based Aetna have been scouting for a local partner to enter India's health insurance market.
The Rs 12,606 crore India health insurance sector which accounts for about a quarter of the total non-life insurance business in the country, is expected to grow by 25% in the next five years.
Since the group is searching for a foreign partner, it is expected that the Indian conglomerate will hold the 74 percent stake in the joint venture.
The Mumbai-headquartered AV Birla Group is already present in the Indian life insurance market through Birla Sun Life Insurance Company Limited (BSLI), a joint venture with Canada-based international financial services company Sun Life Financial Inc.
According to the report, the group is in talks with a South African health insurance company. Some large international health insurance players such as South Africa -based Discovery and US-based Aetna have been scouting for a local partner to enter India's health insurance market.
The Rs 12,606 crore India health insurance sector which accounts for about a quarter of the total non-life insurance business in the country, is expected to grow by 25% in the next five years.
Since the group is searching for a foreign partner, it is expected that the Indian conglomerate will hold the 74 percent stake in the joint venture.
Source: http://www.insuringindia.com
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