With the Insurance Regulatory and Development Authority of India (IRDAI) granting certificate of registration to Aditya Birla Health Insurance Co, your choice of a health insurance provider has widened.
The number of stand-alone health insurers registered with IRDAI has now gone up to six. According to a release issued by the insurance regulator on Monday, the certificate of registration to the new company was issued on July 11.
The other stand-alone health insurance companies are Apollo Munich Health, Cigna TTK Health Insurance, Star Health and Allied Insurance, Max Bupa Health, Religare Health.
Aditya Birla Health Insurance is promoted under a joint-venture agreement between Aditya Birla Financial Services Limited (ABFSL) and MMI Strategic Investments (Pvt) Limited (MMI) of Republic of South Africa.
The IRDAI release says this is the first health insurance company to be issued certificate of registration, after the amendment of the Insurance Act, 1938, recognising health insurance as a separate class of business.