The economic meltdown has affected the growth of one of the leading insurers, HDFC Standard Life Insurance Company Ltd. The company would be growing by only 20-22% in 2008-09 as against 50-80% in other fiscals.
?The meltdown has definitely affected our growth but has not stopped it. In 2007-08, our total premium income was around Rs 2,800 crore and in 2008-09, it would be around Rs 3,500 crore,? said Frederick D?Souza, senior vice-president, health.
At the launch of the company?s second health insurance product, SurgiCare, in the city on Thursday, he said customers should be made aware of health products as they have little knowledge regarding them.
?We would also be launching health saving plans in the next fiscal,? said D?Souza.
When asked about health premium, he said the total premium income would be Rs 20 crore in 2008-09 and the target is to reach Rs 50 crore in 2009-10. In the Rs 5,000-crore Indian health insurance market, the company has an 8% share. ?The health market in India is likely to reach Rs 15,000 crore by 2015,? D?Souza added.
