Aditya Birla Health Insurance targets 80 per cent growth

Aditya Birla Health Insurance, a part of Aditya Birla Capital, is expecting to grow its business by 80 per cent during the current financial year, a company official said on Tuesday.

In the first half of this fiscal, the company's business stood at Rs 315 crore, which is 78 per cent higher compared to the previous first half. Last year, the company registered a business of Rs 500 crore.

"The company is the fastest growing among health insurance companies in the country," CEO of Aditya Birla Health Mayank Bathwal told reporters here.

The company came into existence three years ago, he said adding that 2021-22 is likely to be the break-even fiscal.

"We expect to break-even by 2021-22. In the subsequent year, the company is expected to clock profits," Bathwal said.

With a capital base of Rs 940 crore and with South Africa-based MMI Strategic as its JV partner, Aditya Birla is now eligible to participate in the Ayushman Bharat health cover programme of the government.

"We will explore the possibility of participating in Ayushman Bharat", he said.

Bathwal said the focus of the company would be on retail sales.

"Our 70 per cent of the sales comes from the retail segment. We aim to take it to 75 per cent", he said.