Exclusive Interview with : V Jagannathan, Chairman and MD of Star Health and Allied Insurance
Updated on: 27 Jun 2016
Star Health and Allied Insurance, which had recently tied up with two large public-sector banks, is looking to raise funds from private equity (PE) investors. In an interview with M Saraswathy, V Jagannathan, chairman and managing director of the company, talks about its future strategy. Edited excerpts:
The company has seen an improvement in its performance, posting profit in FY16 after it had reported a loss in FY15. What were the strategies that were taken to reduce losses?
We are a growing company; our management expenses have come down and the claims as well as the procurement cost remained at the same level. This has led to profitability. For this financial year, we have set a target of Rs 2800 crore of gross written premium.
You are planning to raise funds via foreign direct investment (FDI) or by increasing foreign partner's stake? Are you exploring other routes as well?
We are thinking of raising money through FDI route and let us see how things move. However, we might also raise Rs 200 crore to Rs 250 crore from PE investors. We are currently in talks on the matter.
Is group health a segment that you are writing business in?