Rakesh Jhunjhunwala-Backed Star Health That Has Filed IPO Papers: Will It Be A Good Stock To Bet On? swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Lack of data no excuse for homecare hospital cover
Sun, Jun 27 2021 10:42 IST |
0 Views
Unnao victim off ventilator support, condition improves. Image Source: IANS News
Chennai, June 27 : Two decades after opening up the insurance sector in India on the promise of innovative products, industry officials complain on lack of data for domiciliary hospitalisation cover suggested by their sectoral regulator. The Indian insurance regulator IRDAI has allowed non-life insurers to offer homecare/domiciliary treatment or treatment at home as an add on cover afresh or to their existing policies.
In a circular to all non-life insurers including standalone health insurers, the Insurance Regulatory and Development Authority of India (IRDAI) has said companies have to file their products with it, if home treatment is offered as an add-on cover.
Rakesh Jhunjhunwala-backed Star Health Insurance to join IPO frenzy; firm valued in excess of $3 billion
COVID-19 has triggered a surge in sales of health insurance policies. Kotak Mahindra Capital, Citi, Axis Capital, ICICI Securities and BofA Securities are the investment banks engaged by the firm for the IPO. January 20, 2021 / 08:28 AM IST
India’s first and largest private standalone health insurance provider, Chennai-based Star Health Insurance, which is backed by ace investor Rakesh Jhunjhunwala and private equity firms Westbridge Capital and Madison Capital, is planning a D-street debut in 2021, sources with knowledge of the matter told Moneycontrol.
The IPO plans of the firm come on the back of a spectacular surge in the demand for health insurance policies and increased penetration post the outbreak of the COVID-19 pandemic.