Bupa enters Indian health insurance market

Tue, 15 Jul 2008

Bupa group has joined forces with life and care multi-business Max India in order to target the health insurance market in India .

As a result of the partnership, a joint venture has been created called Max Bupa Health Insurance Limited which will be providing a range of products to both consumer and business customers. The initial share capital of the joint venture will be £12m. However, the launch is subject to regulatory approval.

Bupa will take a 26 per cent stake in Max Bupa, which is the maximum allowed under current Indian rules on foreign investment in the country.

Chief executive of Bupa Group Ray King said: "The Indian health insurance market has massive potential, with a growing, young, population. We believe that many of its citizens will be looking for the high quality of care and customer service that Max Bupa will be well placed to offer."
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