Latest news with #ManipalCigna
Time of India
17-07-2025
- Business
- Time of India
ManipalCigna Health Insurance lines up aggressive expansion plan
Chennai: The ManipalCigna Health Insurance Company Ltd has planned to expand its footprint in Tamil Nadu with 10 more branches and add over 10,000 advisors across South India. ManipalCigna Health Insurance Company Ltd is a joint venture between Manipal Group, an eminent player in healthcare delivery and higher education and global health services company Cigna Healthcare. Citing a data from the General Insurance Council (GIC), ManipalCigna said it outpaced the sector with a 30 per cent growth in premium in Q1 FY2026 reflecting its strong regional strategy and customer-first product design. With 18 offices, a network of over 1,500 empaneled hospitals, and over 7,000 advisors ManipalCigna has covered more than 11 lakh lives in TN in FY2025. Commenting on the growing presence in the State, company's Chief Marketing Officer Sapna Desai said, "Over the years, our growing network, innovative offerings, and customer-centric approach have enabled us to earn the trust of our policyholders and our partners to deliver tangible value." "Our consistent growth and the launch of our innovative flagship product, 'Sarvah' with unique features such as infinite coverage available with 'Sarvah Uttam' plan and absolutely zero waiting period available with 'Sarvah Param' plan, demonstrates our dedication to the health, well-being of our customers," Desai said in a press release, here. Over the last three years, the company has settled claims worth Rs 101 crore in Tamil Nadu. In the first quarter of the current financial year, the company achieved a 30 per cent premium growth.
&w=3840&q=100)
Business Standard
15-07-2025
- Health
- Business Standard
ManipalCigna to expand Tamil Nadu reach as Sarvah drives new business
ManipalCigna Health Insurance, one of India's leading health insurers, has deepened its commitment to Tamil Nadu by accelerating the adoption of its innovative and award-winning product, ManipalCigna Sarvah. The company plans to expand its presence in the state with 10 more branches and add over 10,000 advisors across South India in FY26. Focused on India's 'missing middle' population, Sarvah contributed 52 per cent of the company's new business in Tamil Nadu during January to May 2025. With 18 offices, a robust network of over 1,500 empanelled hospitals, and more than 7,000 advisors, ManipalCigna has covered over 1.1 million lives in the state in FY25. Over the last three years, the company has settled claims worth ₹101 crore in the state, underscoring its mission to make quality healthcare more accessible, it said. According to data from the General Insurance Council (GIC), ManipalCigna outpaced the sector with 30 per cent premium growth in the first quarter of FY26, the highest among standalone health insurance (SAHI) players, reflecting its strong regional strategy and customer-first product design. From a healthcare standpoint, non-communicable diseases account for 68 per cent of the total disease burden in Tamil Nadu, higher than the national average of 61.43 per cent. This underscores the need for focused interventions on chronic diseases like diabetes and cardiovascular conditions. In response to such health challenges, ManipalCigna launched Sarvah for the 'missing middle', combining affordability with comprehensive coverage, including critical illness. Sapna Desai, Chief Marketing Officer of ManipalCigna Health Insurance, said: 'Our commitment to making quality healthcare accessible across Tamil Nadu has been central to our journey. Over the years, our growing network, innovative offerings, and customer-centric approach have enabled us to earn the trust of our policyholders and our partners to deliver tangible value.' 'Our consistent growth and the launch of our innovative flagship product, Sarvah, with unique features such as infinite coverage available with the Sarvah Uttam plan and absolutely zero waiting period available with the Sarvah Param plan, demonstrate our dedication to the health, well-being, and peace of mind of our customers.' 'Tamil Nadu presents a strong opportunity for expanding health insurance access, especially in semi-urban and emerging markets. With Sarvah, we have addressed real and recurring healthcare needs through a solution that is simple, affordable, and predictable. We are committed to offering innovative health insurance products and experiences that build lasting trust and improve the well-being of our customers,' said Ashish Yadav, Head – Products and Operations, ManipalCigna Health Insurance. ManipalCigna Health Insurance Company Limited is a joint venture between the Manipal Group, an eminent player in healthcare delivery and higher education in India, and Cigna Healthcare, a global health services company with over 230 years of experience. ManipalCigna is headquartered in Mumbai and has over 100 branch offices covering major metros and towns. The company has built a strong multi-distribution network of over 70,000 agents and more than 500 distribution partners across the country.
Yahoo
10-07-2025
- Business
- Yahoo
Indian government approves OFS in insurance giant LIC
The Government of Indian has reportedly approved an Offer for Sale (OFS) for a portion of its holdings in Life Insurance Corporation of India (LIC). Arunish Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM), in an interview with CNBC-TV18, confirmed the development. The move is part of the government's broader disinvestment strategy for the fiscal year 2025-26, aimed at increasing retail participation and unlocking value in the public sector insurance giant, the report said. Chawla was quoted by CNBC as saying: 'Yes, we would. We would also share it with retail shareholders and policyholders. We want LIC to be part of every household in the country.' Currently, the government's stake in LIC stands at 96.5%, with the public holding the remaining 3.5%. With the organisation's market capitalisation at Rs5.9trn ($68.9bn), the sale of a 1% stake could potentially yield around Rs60bn for the treasury. Earlier reports by CNBC-TV18 had identified LIC as a key candidate for stake sale among public sector undertakings (PSUs) this year. Details concerning the exact size, timing, and structure of the LIC stake sale are anticipated to be made public soon. LIC's initial public offering took place in 2022, marking its transition to a public-listed entity. In March 2025, a report by Economic Times suggested that, LIC was in discussions to acquire a significant stake in ManipalCigna Health Insurance, which would mark its entry into the health insurance market. However, the specifics of this potential acquisition have not been finalised. "Indian government approves OFS in insurance giant LIC" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
