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Competition in the stand-alone health insurance space is heating up.
A joint venture between Star Health Founder V Jagannathan and TVS has received IRDAI’s go ahead to float a health insurance business - Galaxy Health and Allied Insurance.
In a press release, IRDAI said that it has granted the Certificate of Registration to Galaxy Health and Allied Insurance Company Limited in the health insurance segment.
With this, the number of insurers in the health insurance market will go up to 7.
A few months back, Narayana Health received IRDAI’s go ahead to launch a health insurance business. Narayana Health runs one of the country's largest hospital chains under the brand name of Narayana Hospital. It also runs heart centres across the country.