Mumbai Sep 26 (IANS) Reliance Capital said on Tuesday said that it will setup a standalone health insurance company.
According to Reliance Capital s Executive Director Anmol Ambani the firm has received "round 1 approval from the IRDA".
"We expect to become operational beginning early next year " Ambani said while addressing shareholders during the company s annual general meeting held here.
"There are three factors indicating significant growth potential in retail health insurance -- Changing demographics: a younger India with higher income higher assets and more financially aware -- the rising cost of healthcare -- an increase in lifestyle related ailments " he added.
--IANS
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