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April 27, 2015 12:54 PM ET

Insurance

Company Overview of Max Bupa Health Insurance Company Limited

Company Overview

Max Bupa Health Insurance Company Limited provides health insurance products and services to individuals and businesses in India. The company’s products include heartbeat health insurance plan to families and individuals; international medical emergency policy for emergency medical treatment; and health companion health insurance plan to protect against sudden medical expenses and medical treatment. It also provides health care related services. The company was formerly known as Max Bupa Health Insurance Limited. Max Bupa Health Insurance Company Limited was founded in 2008 and is based in New Delhi, India. Max Bupa Health Insurance Limited is a subsidiary of Max India Limited.

2nd Floor

Salcon Ras Vilas

D-1 District Centre

Saket

New Delhi,  110017

India

Founded in 2008

Phone:

91 11 3090 2000

Fax:

18 00 3070 3333

Key Executives for Max Bupa Health Insurance Company Limited

Chief Executive Officer
Director of Finance
Age: 45
Chief Executive of Bupa Group
Age: 60
Director of Legal
Director of Customer Service & Operations
Compensation as of Fiscal Year 2014.

Max Bupa Health Insurance Company Limited Key Developments

Standard Chartered Bank Enters Bancassurance Tie-Up with Max Bupa Health Insurance

Standard Chartered Bank and Max Bupa Health Insurance have entered into bancassurance corporate agency arrangement to provide Max Bupa's health insurance products to the customers of Standard Chartered Bank. The arrangement comes on the back of IRDA's guidelines which permits a stand-alone health insurance company to avail the services of Corporate Agents of other Life and /or Non-Life insurance companies to distribute their products in addition to the existing arrangements of the Corporate Agents with one life and one general insurance company. Standard Chartered will distribute Max Bupa's health insurance products to its customers across its 99 branches spread over 42 cities in India. Max Bupa will work with Standard Chartered Bank to ensure sales training, product support and smooth operational processes in order to offer Max Bupa's health insurance products to customers seeking a health cover for themselves and their family.

Bupa To Increase Stake in Max Bupa From 26% To 49%

The British United Provident Association Limited proposes to increase its stake in Max Bupa Health Insurance Company Limited from 26% to 49%. If the Insurance Laws Amendment Ordinance 2014 receives legislative assent in the 2015 Budget Session of Parliament, Bupa will increase its stake in Max Bupa. Max Bupa is a joint venture wherein Max India Limited (BSE:500271) holds 74% stake and Bupa holds remaing 26% stake. David Fletcher, Managing Director of International Development Markets at Bupa said: "This decision underlines Bupa's commitment to the Indian health insurance market and represents a major milestone in the development of Max Bupa. With our partners Max India, we are committed to supporting Max Bupa’s growth and helping Indian consumers live healthier and more successful lives." Rahul Khosla, Managing Director, Max India Limited, welcomed the decision. The application to increase Bupa’s shareholding in Max Bupa will be subject to successful completion of the law-making process as well as all relevant regulatory and legal approvals. Bupa will submit formal applications to the relevant authorities for the regulatory approvals.

Max Bupa Health Insurance Company Limited Announces Revenue Results for the Second Quarter Ended September 30, 2014

Max Bupa Health Insurance Company Limited announced revenue results for the second quarter ended September 30, 2014. For the quarter, the company reported a growth of 21% in gross written premium to INR 860 million. It's average premium realization increased to 23% to INR 6,452.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 5, 2015
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