Star Health to raise Rs 120 crore next fiscal year

Expects to reach a gross premium of around Rs 1,150 crore this fiscal year

Health insurance firm Star Health and Allied Insurance Company Ltd would look at raising around Rs 120 crore during the next fiscal year.

V Jagannathan, chairman and managing director of the insurance firm said that the company would look at fund raising in order to meet the capital requirement in its future course of business.

The company, which has crossed a gross premium of Rs 1,000 crore, is expecting to reach a gross premium of around Rs 1,150 crore in the end of current fiscal year, which is completing this month.

The company today launched a modified Star Diabetes Safe Policy, which would cover regular hospital expenses of the policy holder, regardless how many years the customer has been living with the disease. The policy would cover around 400 procedures in day care and the entry age is between 18 years and 65 years.

Star Health and Allied Insurance Company Limited (Star Health), which claims as India's first stand-alone Health Insurance Company, deals in Personal Accident, Mediclaim and Overseas Travel Insurance.