Reliance Capital is all set to enter the standalone health insurance space soon. In fact, IRDAI has given its go ahead to launch Reliance Health Insurance.
In a press release, IRDAI said, “Reliance Health Insurance, a Health Insurance Company promoted by Reliance Capital has been registered as a health insurer for conducting health insurance business. The Certificate of Registration (Form – IRDA/ R3) has been granted by the IRDAI on October, 3, 2018.”
The company said that health insurance in India has been amongst the fastest growing insurance sectors growing at 20 percent annually and is expected to double to over Rs.1 lakh crore by 2021.
With this, the total number of standalone health insurers has gone up to seven.
Reliance Capital has business interests in life insurance, general insurance, mutual fund and wealth management.