Aditya Birla Financial Services Group (ABFSG) on Thursday announced the launch of its standalone health insurance arm under the brand Aditya Birla Health Insurance (ABHI).
The new business segment is a joint venture between the Aditya Birla Group and MMI Holdings Ltd (MMI), a diversified financial services company in South Africa. Ajay Srinivasan, Chief Executive – Financial Services, ABFSG, said the company’s new health business vertical enters the Indian market with a differentiated business model. It offers not just health insurance to a wider set of customers but also encourages them to change their attitudes towards lifestyle and health. The Aditya Birla Group and MMI are in a 51:49 joint venture with Rs. 250 crore of initial capitalisation.