Religare Health Insurance Company Limited

Religare Health Insurance Company Limited is a stand-alone Indian health insurance firm established in July 2012, by Religare enterprise limited, Union Bank of India and Corporation Bank. The company is headquartered in Gurgaon, Haryana and operates out of 54 offices across India with 1200+ employees. Anuj Gulati is the present Managing Director and CEO of the company.

History

Religare Health Insurance has been a joint venture of Religare Enterprise Private ltd., Union Bank of India and Corporation Bank from 2012 onwards. It got its IRDA approval in July 2012 and has been among the five private sector insurers to underwrite policies exclusively in health, personal accident and travel insurance segments.

Products and Services

The company consists of three major plans namely travel insurance plans which consist of Explore, Student Explore and Group Explore. Health insurance plans which consists of Care, Care Freedom, Enhance, Joy and Group care. The 3rd and the last plan is Fixed Benefit Plans which consists of products like Assure, Secure and Group Secure.

Awards

RHIL won the overall award of the best Social Media Initiative of the year by Fintelekt in 2016. Other than that it has also won 2015’s Best Health Insurance Company award by ABP News BFSI, 2013’s ‘Editor’s Choice Award’ by Finnoviti for ‘Innovation in Product– Care’.

News

On April 9th 2017 Religare Enterprises Ltd announced the sale of its 80% stake in Religare Health Insurance Co. Ltd (RHI) to a group of investors led by True North. In a statement, Religare Enterprises said it has entered into a definitive agreement with the investors for the sale, which values the insurance firm at Rs. 1,300 crore. The deal will fetch Religare approximately Rs. 1,040 crore.