Aditya Birla Health Insurance Expects 80 Per Cent Growth
Published On Nov 20, 2019, Updated On Jan 30, 2020
As per a company official, Aditya Birla Health Insurance is targeting its business growth to be 80 per cent in the current financial year. Aditya Birla Health Insurance is a part of Aditya Birla Capital.
ABHI’s business growth was at Rs. 315 Crore in the first half of the current fiscal, that is 78 per cent more if compared to the previous first half. The company stood at Rs. 500 Crore in the previous year.
The Chief Executive Officer of Aditya Birla Health, Mayank Bathwal shares, "The company is the fastest-growing among health insurance companies in the country.”
It has been three years that the company had started operating. As per him, 2021-22 might be the break-even fiscal.
Bathwal said, "We expect to break-even by 2021-22. In the subsequent year, the company is expected to clock profits.”
Aditya Birla has its joint-venture partner which is a South-Africa based MMI Strategic. Aditya Birla has Rs. 940 Crore of capital base and is now eligible to take part in the government’s Ayushman Bharat health cover programme.
He also shares "We will explore the possibility of participating in Ayushman Bharat.” Bathwal made it clear that the company will focus on the retail sales.
"Our 70 per cent of the sales come from the retail segment. We aim to take it to 75 per cent", he adds.