Galaxy Health Insurance Aims for Rs 200 Crore Premium Target

Galaxy Health Insurance Company Ltd targets a premium income of Rs 200 crore in the current financial year, aiming to expand in the domestic market. With 60 offices and 6,000 agents, it plans to grow to 100 office locations. Innovative products are expected to enhance customer service.

Galaxy Health Insurance Company Ltd has set an ambitious goal of achieving a Rs 200 crore premium income this financial year. As part of its strategy to increase its market share, the company aims to expand its presence and improve its service offerings significantly.

Since receiving approval from the Insurance Regulatory and Development Authority of India (IRDAI) last year, Galaxy Health Insurance has opened 60 offices primarily in the Southern states and has engaged 6,000 agents under its brand. This expansion is supported by prominent industrialists Venu Srinivasan and V Jagannathan.

In an effort to capture a broader market, Managing Director and CEO G Srinivasan highlighted the company's goal to increase its office locations to 100. The company is focusing on both metropolitan areas and smaller towns, with plans to introduce innovative health insurance products. These products are designed to offer better coverage at competitive prices, ensuring hassle-free services for policyholders.

(With inputs from agencies.)