Max Bupa set to become one of the first to benefit from the hike in insurance FDI limit.
UK based healthcare company Bupa is set to increase its stake in Max Bupa Health Insurance to 49%, says a press release issued by the company. Currently, it holds 26% stake in Max Bupa Health Insurance.
However, the deal is subjected to regulatory and legal approvals.
In the press release, David Fletcher, Managing Director of International Development Markets at Bupa said: "This decision underlines Bupa's commitment to the Indian health insurance market and represents a major milestone in the development of Max Bupa. With our partners Max India, we are committed to supporting Max Bupa’s growth and helping Indian consumers live healthier and more successful lives."
Rahul Khosla, Managing Director, Max India Limited, Bupa’s JV partner, welcomed the decision. “Max Bupa has established its brand, developed a wide retail customer base and grown its share in the attractive health insurance market. As Max Bupa prepares itself for its next wave of growth, it will stand to benefit from Bupa’s expertise in areas such as under-writing health risks and product innovation. Bupa's intention to increase its stake is testimony to the huge opportunity for health insurance in India and Max India's reputation in successfully managing joint ventures."