Archive · 15 Dec 2025
Galaxy Health Insurance Faces 5-6% Impact from GST Cut
Galaxy Health Insurance is a company that sells health insurance in India.
The government recently decided to remove the 18% tax (GST) on individual health insurance policies.
This change is expected to reduce Galaxy Health Insurance's profits by about 5-6%.
The company's CEO, G Srinivasan, thinks this tax cut will help more people buy health insurance in the future.
Galaxy Health Insurance has launched a new product called Galaxy Twin 360, which is designed for young adults.
The company has written ₹85 crore in premiums since it started in October 2024 and has 3.5 lakh customers.
They plan to grow and expand their operations in the coming years.
Galaxy Health Insurance estimates a 5-6% impact on its bottom line due to the GST rate cut on health insurance policies.
The government exempted individual health insurance policies from GST, which previously attracted an 18% levy, effective from September 22, 2023.
The GST cut is expected to support long-term growth in health insurance as it makes policies more affordable.
Galaxy Health Insurance launched Galaxy Twin 360, a health insurance product for young adults aged 18-45, offering comprehensive inpatient and outpatient benefits.
The company has written ₹85 crore in premium income since its launch in October 2024, covering 3.5 lakh customers across eight states.
- Who
- Galaxy Health Insurance, a standalone health insurer in India
- What
- The company estimates a 5-6% impact on its bottom line due to the GST rate cut on health insurance policies
- When
- The GST exemption for individual health insurance policies came into effect on September 22, 2023
- Where
- India
- Why
- The government exempted individual health insurance policies from GST, which previously attracted an 18% levy, affecting the insurer's bottom line
- Company
- Galaxy Health Insurance
- GST Impact
- 5-6% on bottom line
- GST Rate Cut
- 18% to 0% on individual health policies
- Premium Growth
- 24% year-on-year in November 2023
- New Product
- Galaxy Twin 360 for young adults
- Premium Income
- ₹85 crore since October 2024
- Customer Base
- 3.5 lakh customers
- Operating States
- 8 states through 71 offices
