L&T insurance expects 25 percent premium collection from health biz

By Indo Asian News Service | IANS India Private Limited – Tue 30 Oct, 2012

Kolkata, Oct 30 (IANS) L&T General Insurance, a wholly-owned subsidiary of conglomerate Larsen & Toubro, hopes to earn 25 percent of total premium collection from its health insurance business in the next two to three years, a company official said Tuesday.

The private sector insurer's premium collection from health insurance currently stood at 10 percent of its total premium. Its total premium collection was Rs.143 crore during 2011-12, the first financial year of its operation.

"We expect that in the next two to three years, about 25 percent of our total premium collection will be coming from health insurance," L&T Insurance CEO and wholetime director Joydeep Roy said here.

Roy was talking to the media on occasion of launching of its health insurance policy "my health Medisure Classic Insurance".

The company has a portfolio of about 40 products in which eight products are in health insurance segment.

On the company's plan to increase its number of branches, he said: "We are aiming to roll out three to four branches across the country, including one in eastern India, in this financial year."

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