Religare Health Insurance Company Unlisted Shares Details:

About Religare Health Insurance:

Religare Health Insurance (RHI), the health insurance arm of Religare Enterprises Limited (REL), is a specialized Health Insurer offering health insurance services to employees of corporates, individual customers, and financial inclusion as well. RHI commenced business in 2012 and currently has three major shareholders – Religare Enterprises Limited, Union Bank of India and Corporation Bank.

Religare Health Insurance currently offers products in the retail segment for Health Insurance, Critical Illness, Personal Accident, Top – up Coverage, International Travel Insurance and Group Personal Accident for corporates.

Health Insurance Sector:

1.     The total size of Health Insurance in India stands at 50,891 Crores in FY 18 – 19, up by 18.3% from last year. There are three categories of health insurance providers in India.

a)    Public Sector Institutions – 53% market share

b)    Private Institutions – 23.5% market share

c)     Stand – alone insurers – 23.5% market share

However, in terms of retail policies, Stand Alone Health Insurance Companies (SAHI) have the biggest share of 44% and Religare Health Insurance falls under this category.

2.     Religare Health Insurance is a SAHI and ranks number 6 overall and number 3 in GDP.

3.     Religare Health Insurance is servicing over 700 locations across the country within a network of 110 plus branches and 9450 plus hospitals. It has a products bouquet of 18 products encompassing group, travel, and fixed benefits to serve varied customers.

4.     The company is highly customer – centric with a low grievance rate of two complaints per 10000 policies and has a claim settlement ratio of 93%. The combined ratio of the company stands at 97%. RHI has also won various awards like – ‘Best Claims Service Provider of the Year’, ‘Bancassurance Leader of the Year 2018’ by Insurance India Summit & Awards 2018, ‘India’s Most Preferred Travel Insurance’ by IMP Travel Brand Awards 2018, etc.

5.     Religare Health Insurance is marketed by a team behind the hospital chain known as Fortis Health Care. It is one of six standalone health insurers in India.