Religare Enterprises has formed joint venture with Swiss Reinsurance Company (Swiss Re) to incorporate a health insurance company in India. Religare expects to emerge as one of the leading players in health insurance segment in India.
Swiss Re is one of the world’s leading and diversified reinsurers. This investment reflects its commitment towards the development of health insurance business in emerging markets such as India.
This JV will strengthen Religare’s diversified portfolio and bolster its presence in the insurance domain. On the other hand, Swiss Re will be a minority shareholder and will seek to provide its actuarial, risk management and underwriting expertise to the new venture.
The joint venture company is expected to become operational by 2010.