<p>Leading health insurance service provider, Star Health And Allied Insurance Company, on Wednesday said that it is planning get Rs 300 crore from a private equity investor to achieve its business target.<br /><br /></p>.<p>Star Health Executive Director S Prakash said that to achieve his company’s business target, a sum of Rs 300 crore is required as additional capital. “We are planning to raise it from a new private equity investor,” he said. On the future plans, Prakash said that his company has fixed a premium target of Rs 1,900 crore as against the previous year’s earning figure of Rs 1,472 crore.<br /><br />He said Star Health’s focus is on retail customers as group insurance policies are not profitable. Stating that the health insurance portfolio is showing a healthy growth, Prakash said shortly the total premium may cross the premium earned from insuring motor vehicles.<br /><br />He said government owned non-life insurers and stand-alone health insurers are logged growth in the health insurance portfolio last year whereas the private non-life players are not. Pointing out that the total health insurance premium earned by the industry was around Rs 20,443 crore during 2014-15, he said it is expected to touch Rs 55,000 crore by 2020.</p>
<p>Leading health insurance service provider, Star Health And Allied Insurance Company, on Wednesday said that it is planning get Rs 300 crore from a private equity investor to achieve its business target.<br /><br /></p>.<p>Star Health Executive Director S Prakash said that to achieve his company’s business target, a sum of Rs 300 crore is required as additional capital. “We are planning to raise it from a new private equity investor,” he said. On the future plans, Prakash said that his company has fixed a premium target of Rs 1,900 crore as against the previous year’s earning figure of Rs 1,472 crore.<br /><br />He said Star Health’s focus is on retail customers as group insurance policies are not profitable. Stating that the health insurance portfolio is showing a healthy growth, Prakash said shortly the total premium may cross the premium earned from insuring motor vehicles.<br /><br />He said government owned non-life insurers and stand-alone health insurers are logged growth in the health insurance portfolio last year whereas the private non-life players are not. Pointing out that the total health insurance premium earned by the industry was around Rs 20,443 crore during 2014-15, he said it is expected to touch Rs 55,000 crore by 2020.</p>