Mumbai-based Cigna TTK Health Insurance Company Ltd has filed an application with the Insurance Regulatory and Development Authority to increase Cigna’s stake in the joint venture from 26% to 49%, it said in a release.
A joint venture between US-based global health service provider Cigna Corporation and Indian conglomerate TTK Group, Cigna TTK Health Insurance launched its operations in February 2014.
“The increase of Cigna’s stake in Cigna TTK is a significant step demonstrating Cigna’s commitment to the Indian health insurance market,” said Sandeep Patel, chief executive officer of Cigna TTK Health Insurance.