Thursday, September 29, 2022

Abu Dhabi Investment Authority invests ₹665 crore in Aditya Birla Health Insurance

Must read

Shreya Christinahttps://cafe-madrid.com
Shreya has been with cafe-madrid.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider cafe-madrid.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

  • Abu Dhabi Investment Authority will own a 9.99% stake in the insurer after the deal.
  • The health insurer plans to use this capital to boost its growth.
  • ADIA sees significant potential in the Indian health insurance sector, driven by increased awareness and broader economic growth.

Abu Dhabi Investment Authority (ADIA) today invested ₹665 crore in Aditya Birla Health Insurancefor a 9.99% interest in the insurer.

Following the investment, Aditya Birla Capital will own a 45.91% stake and Momentum Metropolitan Holdings will own a 44.10% stake in the company. ADIA becomes the third partner in the insurance company created as a joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments; in 2016.

The health insurer plans to use this capital to stimulate growth.

Hamad Shahwan Al Dhaheri, executive director of ADIA, says he sees significant potential in the Indian health insurance sector, driven by greater awareness and broader economic growth.

“This partnership with ADIA reinforces our determination to further expand the company’s ‘Health-First’ proposition as we empower our customers to lead healthy lives. We remain committed to this promise and have reinvented our business model and customer engagement accordingly by creating differentiated products, a digital health ecosystem and a large distribution presence across the country,” said Mayank Bathwal, CEO of Aditya Birla Health Insurance.

Aditya Birla Health Insurance has a nationwide distribution position in more than 4,800 cities through branches and partner offices, 14 bancassurance partners and more than 68,000 direct sales agents.

ALSO SEE:
A startup founder was asked to do a coffee run on her first pitch, now she is one of the richest women in India

Jio, Airtel could emerge stronger and further weaken Vodafone Idea, analysts say

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article