Mumbai, Sep 26 (IANS) Reliance Capital said on Tuesday said that it will setup a standalone health insurance company.
According to Reliance Capital's Executive Director Anmol Ambani, the firm has received "round 1 approval from the IRDA".
"We expect to become operational beginning early next year," Ambani said while addressing shareholders during the company's annual general meeting held here.
"There are three factors indicating significant growth potential in retail health insurance -- Changing demographics: a younger India with higher income, higher assets, and more financially aware -- the rising cost of healthcare -- an increase in lifestyle related ailments," he added.
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.