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Religare Plans To Launch Health Insurance By April ’10

Religare is said to be in talks with global players in health insurance such as Aetna, Cigna and Discovery Health for a possible alliance

Religare Enterprises, a Delhi-based integrated financial services group, is planning to venture into health insurance space by April 2010 – reported The Economic Times. Amit Varma, president for healthcare at Religare Enterprises, has said that the company will approach the Insurance Regulatory and Development Authority (Irda) very soon for a licence to commence the business.

Reportedly, the company has already started recruiting personnel for the same purpose and is going to appoint a CEO shortly. It is said to be in talks with global players in health insurance such as Aetna, Cigna and Discovery Health for a possible alliance.

“We hope to induct a foreign partner in the health insurance venture after our proposed joint venture with the world’s second-largest reinsurer Swiss Re fell through last month,” Mr. Varma added.