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Reliance Capital to setup standalone health insurance firm by next year

Company says it has received round 1 approval from insurance regulator

IANS  |  Mumbai 

Reliance Capital
Reliance Group Chairman Anil Ambani with his son Anmol addresses the Annual General Meeting of Reliance Capital in Mumbai on Tuesday. (Photo: Kamlesh Pednekar)

Capital said on Tuesday said that it will set up a standalone health company.

According to Capital's Executive Director Anmol Ambani, the firm has received "round 1 approval from the IRDA".

"We expect to become operational beginning early next year," Ambani said while addressing shareholders during the company's annual general meeting held in

"There are three factors indicating significant growth potential in retail health -- Changing demographics: a younger India with higher income, higher assets, and more financially aware -- the rising cost of healthcare -- an increase in lifestyle-related ailments," he added.

First Published: Tue, September 26 2017. 16:24 IST