Abu Dhabi Investment Authority invests ₹665 crore in Aditya Birla Health Insurance
Abu Dhabi Investment Authoritywill own a 9.99% stake in the insurer, after the deal.
- The health insurance company plans to use this capital to drive its growth.
- ADIA sees significant potential in India’s health insurance sector driven by higher awareness and broader economic growth.
AdvertisementAbu Dhabi Investment Authority (ADIA) today invested ₹665 crore in
After the investment, Aditya Birla Capital will hold 45.91% stake and Momentum Metropolitan Holdings will have a 44.10% stake in the company. ADIA will be the third partner in the insurance company which was formed as joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments; in 2016.
The health insurance company plans to use this capital to drive growth.
Hamad Shahwan Al Dhaheri, executive director of ADIA says he sees significant potential in India’s health insurance sector driven by higher awareness and broader economic growth.
“This partnership with ADIA strengthens our resolve to further expand the company’s ‘Health-First’ proposition, as we empower our customers to lead a healthy life. We remain committed to this promise and have reimagined 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 presence in over 4,800 cities through branches and partner offices, 14 bancassurance partners, and over 68,000 direct selling agents.
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