Aditya Birla Health Insurance Limited (ABHICL)
Aditya Birla Health Insurance Co. Limited (ABHICL), a part of Aditya Birla Capital Ltd (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein ABCL and Momentum Metropolitan Strategic Investments (Pty) Limited (Formerly known as MMI Strategic Investments (Pty) Ltd.) hold 51% and 49% shares respectively. ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. The company’s current product portfolio includes unique offerings including chronic care and incentivized wellness.
In Q1 FY22, ABHICL recorded a gross written premium (GWP) of Rs.630 Crore and covered more than 22 million lives. ABHICL has nation-wide distribution presence in over 2800+ cities through branches and partner offices, 14 bancassurance partners and over 68,000 direct selling agents. ABHICL has scaled and diversified digitally enabled distribution through 28% agency growth with 131 branch locations, bancassurance available through 17,000+ branches, and 43 digital partners covering 6 mn+ lives through 50+ contextual bite-sized products.
ABCL is the holding company for the financial services businesses of Aditya Birla Group. ABCL’s subsidiaries have a strong presence across Protecting, Investing and Financing solutions. ABCL is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 33,500 employees, the subsidiaries of ABCL have a nationwide reach with 1,094 branches and more than 2,00,000 agents, channel partners and several bank partners.
As of June 30th, 2022, ABCL manages aggregate assets under management over Rs.3,550 billion, has a consolidated lending book of approx. Rs.699 billion, and an active customer base of over 39 million, through its subsidiaries and joint ventures.
