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Life insurance is an interest area for us
Mint Mumbai
|April 17, 2025
We'll see what the regulatory requirements are, and then probably we will decide on any acquisition Anand Roy MD & CEO, Star Health & Allied Insurance
India's largest private health insurer Star Health & Allied Insurance Co. Ltd plans to venture into life insurance business by potentially acquiring a life insurance company once the government allows composite licence for insurers in India, says Anand Roy, MD & CEO, Star Health.
Roy expects a 10% rise in the cost of average health insurance premium this year in the wake of rising medical inflation. He also denied reports of any stake sale discussion with Life Insurance Corp. of India (LIC), which has been planning to partner with a health insurer through stake acquisition in the imminent composite license regime. After dealing with a hit on profitability due to unusually high insurance claims last year, Roy, in an interview with Mint, said Star Health has taken measures to bring claims settlement ratios back on track this year, while looking to double the company's sales to over ₹30,000 crore by fiscal year 2028. Edited excerpts:
You are already the largest health insurer. Would you look at adjacencies once composite licence is allowed?
This story is from the April 17, 2025 edition of Mint Mumbai.
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