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ICICI Securities: Care Health Insurance - Management Call Takeaways

ICICI Securities: Care Health Insurance - Management Call Takeaways

A nurse uses a pulse oximeter on a lady at her home in Plainfield, New Jersey, U.S. (Photographer John Taggart/Bloomberg)
A nurse uses a pulse oximeter on a lady at her home in Plainfield, New Jersey, U.S. (Photographer John Taggart/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

We hosted Mr. Pankaj Gupta, Chief Financial Officer, Care Health Insurance (CARE), to discuss the outlook on Indian health insurance sector.

Care Health Insurance is the second largest standalone health insurer (SAHI) in India as of FY20 with a gross direct premium income (GDPI) of Rs 24 billion.

Key takeaways -

  • Market share gain of Standalone Health Insurance (SAHI) companies has happened at the expense of public sector undertaking insurers.
  • Market share in overall health has moved from 46% in FY18 to 40% in 5MFY21-to-date for PSU insurers, 20% in FY18 to 25% in 5MFY21-to-date for SAHI companies and has remained steady at 35% for private insurers.
  • While SAHI market share of overall GDPI has increased from 3% in FY12 to 8% in August 2020, its market share within the health segment has averaged 25% in recent times.
  • Among SAHI, Star Health held 51% share while Care Health Insurance, HDFC Ergo and Max Bupa held 15%, 13% and 9% respectively as of August 2020.

Click on the attachment to read the full report:

ICICI Securities General Insurance Sector Update.pdf

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