Aditya Birla Nuvo to foray into Health Insurance, Wellness business in India

04 Jun 2015 Evaluate

Aditya Birla Nuvo (ABNL) has entered into definitive Joint Venture agreements with MMI Holdings, a leading South African Insurance based financial services group, to enter into the Health Insurance and Wellness business in India. As per the agreements, ABNL will hold 51% share in the Joint Venture Company (JVC) named Aditya Birla Health Insurance Company (ABHICL), subject to the regulatory approvals.

ABHICL is in the process of making an application to the Insurance Regulatory and Development Authority of India for obtaining license to start health insurance and wellness business operations. The company expects to commence operations in next 12-15 months.

Aditya Birla Nuvo is a $4.5 billion conglomerate by revenue size. The company, part of Aditya Birla Group, is present across financial Services, telecom, fashion & lifestyle, IT-ITeS and manufacturing businesses.



Peers
Company Name CMP
Grasim Industries 2597.55
DCM Shriram 1251.65
Birla Corporation 1102.45
Surya Roshni 565.00
3M India 30706.75
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