Global reinsurance firm Swiss Re has entered an agreement with TKK Group and India Value Funds Advisors, to acquire a 26% stake in India's leading health insurance third party administrators TKK Healthcare Services.
Headquartered in Bangalore, TKK Healthcare Services (TKKHCS) provides Indian health insurance companies with a wide range of medical claims handling services.
Martyn Parker, a member of Swiss Re’s executive board and CEO for Asia commented: The move represents our commitment to the region and a milestone in Swiss Re’s strategy to enter the medical reinsurance business in Asia. We look forward to broadening our offering and providing further support to our clients.
In light of the acquisition, the reinsurance company also intends to create a health care services advisory company, to focus on product development and corporate health schemes, leveraging Swiss Re’s innovation skills in product development and risk management expertise to assist Indian health insurance companies in rapidly expanding the market.
The transaction is subject to regulatory approval.