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Bajaj Allianz General Insurance Co Ltd plans to increase its retail healthcare portfolio by nearly 50 per cent during 2013-14. The company will use its distribution network to ramp up its presence in the healthcare portfolio.
Retail health insurance currently accounts for 33 per cent of its healthcare portfolio.
“We are banking on our distribution network for increasing the healthcare portfolio by nearly 50 per cent,” Tapan Singhel, Managing Director & CEO, Bajaj Allianz, said, adding that the healthcare portfolio is expected to increase to nearly 20 per cent.
Healthcare portfolio is the second major contributor — 15 per cent — after motor insurance.
Motor insurance
While motor insurance accounts for around 55 per cent of its portfolio, fire and liability, engineering & money insurance each account for around 12 per cent. The remaining six per cent is through the rural and miscellaneous insurance portfolio.
According to Singhel, the company is planning to clock a turnover of nearly 22 per cent year-on-year growth to Rs 4,000 crore by 2012-13.
Bajaj Allianz had clocked a turnover of over Rs 3,000 last fiscal.
abhishek.l@thehindu.co.in shobha.roy@thehindu.co.in
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