Health Insurance Fri, Sep 5, 2024
Bupa health insurance looks east for future growth
As the health insurance market in the UK continues to grow it seems that Bupa has spotted the potential of an Indian joint venture at a very early stage of the proceedings. Indian insurance group Max India has announced plans to set up the venture with Bupa which will see the British company take a 26% stake in Max Bupa Health Insurance Ltd with Max India taking the balance.
The new company will look to target a range of health insurance groups including individuals and corporate health insurance deals. Initially the joint venture will be look to sign up 1 million new customers and then hopefully expand the business outwards across India. It seems as though the demographics of the country are set to change of the next few years with the average age of the population expected to extend to 29 years old over the next decade.
This change in the demographics will ensure that there is a healthy stream of potential clients and as the Indian economy continues to push ahead, health insurance is set to move into the mainstream. The potential for massive growth in India is obvious but this needs to be managed and controlled which is where the skills and experience of Bupa come into play.
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