Friday, May 14

Aditya Birla Health hopes to continue 78% growth of first half of FY20

Kochi: The company, started three years ago, clocked a growth rate of 78% in the first half year-on-year, earning Rs 316 crore in premia. “ We expect to achieve the same growth in the second half by penetrating to more regions,’’said Mayank Bathwal, CEO of the company after opening its first branch in Kerala at Kochi.

Bathwal said the penetration is still low in individual health insurance in the country. Around 50 crore people have been covered by health insurance of which 36 crore are by Ayushman Bharat scheme of the government while around 9 crore are covered by corporate health insurance. “ The number of people who have taken individual insurances is only about 4 crore.’’

He said there is scope for new offerings in the health insurance sector. “The total healthcare cost is around 6 lakh crore. But the total health insurance premium is just 50,000 crore out of which that paid comes to 45,000 crore.’’

The company is looking at Thiruvananthapuram and Kozhikode in Kerala to expand footprint.

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