CHENNAI: Health insurance-focused third party administrator (TPA) Medi Assist Healthcare Services is looking at hitting a premium under management of Rs 25,000 crore by FY25 end.
The company would grow more than 20% YoY in the current fiscal, its CEO Satish Gidugu said. "We have always grown at or faster than the market, and we hope to continue the same,” he told TOI on Tuesday.
The industry growth rate was expected to be 18%-20% this fiscal, he added.
The company’s total premium under management during the full year of FY24 stood at Rs 19,050 crore. It manages 21% of the country's premium in the group and retail health insurance segments.
In August, the company announced the acquisition of Paramount Health Services & Insurance TPA. "With this acquisition, our share in administering premium under the group and retail health insurance segment will go up to 24%," he said.
Medi Assist Healthcare Services is India's largest TPA to insurance companies with wholly owned subsidiaries such as Medi Assist TPA and Raksha TPA.
Asked about new acquisition plans Satish said, "If there is something good that comes up, we will always evaluate." However, he did not comment on a query whether it was in discussions with any company in this regard.
Handling approximately 12,000 corporates, the company processed around 80 lakh claims in FY24.
The company would grow more than 20% YoY in the current fiscal, its CEO Satish Gidugu said. "We have always grown at or faster than the market, and we hope to continue the same,” he told TOI on Tuesday.
The industry growth rate was expected to be 18%-20% this fiscal, he added.
The company’s total premium under management during the full year of FY24 stood at Rs 19,050 crore. It manages 21% of the country's premium in the group and retail health insurance segments.
In August, the company announced the acquisition of Paramount Health Services & Insurance TPA. "With this acquisition, our share in administering premium under the group and retail health insurance segment will go up to 24%," he said.
Medi Assist Healthcare Services is India's largest TPA to insurance companies with wholly owned subsidiaries such as Medi Assist TPA and Raksha TPA.
Asked about new acquisition plans Satish said, "If there is something good that comes up, we will always evaluate." However, he did not comment on a query whether it was in discussions with any company in this regard.
Handling approximately 12,000 corporates, the company processed around 80 lakh claims in FY24.
You may also like
Odisha CM orders inquiry into death of tribal women for consumption of Mango kernel
Prince William delivers landmark speech as he pledges support for key professionals
'Our relationship with America will only grow': Jaishankar on India-US ties amid presidential election 2024
Congress planning to endanger Bengali Hindus, alleges Assam CM
MP bypolls: Cong & BJP start campaign in Budhni and Vijaypur
