Reliance Health Insurance gets R3 Approval from IRDAI

Health insurance business, one of the fastest growing in India, at 20 per cent annually and is expected to double to over Rs.100,000 crore by 2021

Mumbai: Reliance Health Insurance, a wholly owned subsidiary of Reliance Capital announced that it has received R3 approval from Insurance Regulatory Development Authority of India (IRDAI) for its new health insurance business.

The new company will commence operations by the December quarter of 2018, the company said in a filing with BSE.

Anmol Ambani, Executive Director, Reliance Capital said, ''The scope of health insurance in India is massive and, given the current low penetration, is expected to grow multi-fold over the next few years. Setting up a standalone health insurance company with an extremely experienced and capable leadership will allow us to put the right kind of focus this segment requires.

Health insurance business, one of the fastest growing in India, at 20 per cent annually and is expected to double to over Rs.100,000 crore by 2021

We are making significant investments in our technology and digital platforms which will provide a magical experience for our customers.

Read Also: Reliance Capital to spin off health biz from general insurance