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Business Economy


Aditya Birla Health Insurance earns Rs 318 cr in 2018, eyes 100 pc growth in 2018-19

Aditya Birla Health Insurance earns Rs 318 cr in 2018, eyes 100 pc growth in 2018-19

Chandigarh, 15 Mar (UNI) Aditya Birla Health Insurance Co. Ltd.(ABHICL) , a joint venture between Aditya Birla Group and MMI Holdings of South Africa, is quite optimistic of achieving robust 100 per growth during the current fiscal as against the industry's growth at around 25 per year on year basis, Company's Chief Executive Officer Mayank Bathwal claimed.

Speaking to media persons here on Friday on the company's growth and its health insurance plan 'Active Health', Bathwal said the premium income figure ending third quarter December 18 for the current fiscal stands at Rs 318 crore which is nearly double the figure of same period of last fiscal. " We are optimistic of registering growth trajectory at 100 per cent by the end of current fiscal whereas, the industry is growing roughly at 25 per cent year on year basis, " he claimed.

He, however said that despite robust growth rate the company is still in business deficit and likely to achieve break even in next three years when it comes at earning Gross Written Premium @ Rs 1700 to 2000 crore annually. In insurance sector at least 6-7 years are required for any company to come at break even level, he added.

Answering an another question, Bathwal said the company is rapidly expanding its footprints across the country and has tied up with 5300 plus hospital in over 650 cities through branches and partner offices, nine bancassurance partners and over 17,100 direct selling agents by Dec 18 which is a sizable increase over the numbers till Dec 17.

Elaborating on the 'Active Health' Health plan, he said it not only covers four chronic conditions Asthma, Diabetes, High Blood Pressure and High Cholesterol from the day one of commencement of the policy bus also incentivize wellness program where covered life can earn upto 30 per cent of the premium back by staying hale and hearty during the cover period.

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