1 month ago
ManipalCigna Health Insurance reports strong growth
ManipalCigna Health Insurance has seen strong growth, especially in the retail and SME segments.
The company is focusing on the SME segment for profitability and lower risk.
They are leveraging the expertise of their promoters, Manipal Group and Cigna Healthcare, for product innovation and risk management.
The current mix of retail and group policies is 50-50, but retail is expected to lead growth in the future.
ManipalCigna Health Insurance reported a 32% year-on-year growth in gross direct premium underwritten in Q1.
Retail segment grew by 46%, driven by distribution expansion and focus on tier 2 and tier 3 markets.
SME segment saw a 70% growth, making it a key focus for profitability.
The company leverages Manipal Group's clinical insights and Cigna's global experience for product innovation and risk management.
Current mix of retail and group policies is 50-50, with retail expected to lead future growth.
- Who
- ManipalCigna Health Insurance
- What
- Reported strong growth and strategic focus on SME segment
- Where
- India
- When
- First quarter of the fiscal year
- Why
- To maintain profitability and manage long-term risk
Focus on SME Segment
Large Corporate Segment Challenges
Profitability and Risk Management
Focus on SME Segment
The SME segment is more profitable and less risky, with a focus on underwriting discipline and lower overall costs.
Large Corporate Segment Challenges
Large corporate segment faces challenges in profitability due to market softness and price expectations.
Key facts
- Growth in Q1
- 32% year-on-year growth in gross direct premium underwritten
- Retail Growth
- 46% growth in retail segment
- SME Growth
- 70% growth in SME segment
- Promoters
- Manipal Group and Cigna Healthcare
- Current Mix
- 50-50 between retail and group policies
Quotes
Joydeep Saha
MD & CEO of ManipalCigna Health Insurance
“Cigna’s vast experience helps us maintain the right balance when designing products or pricing strategies, balancing short‑term targets against long‑term risk management.”
thehindubusinessline.com
Sources
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