Health insurer Max Bupa said it would invest over Rs 450 crore in the next four years to expand its business.
“Currently,the paid up capital of the company stands at Rs 236 crore and promoters are committed to infuse more capital as and when required,” Max Bupa Health Insurance Chief Executive Damien Marmion said after releasing Bupa’s Health Pulse 2010 report here.
In the next 3-4 years the equity base of company should be Rs 700 crore,he said.
The third stand-alone health insurance company,which started its operation nine months ago,is a joint venture between health-care major,Max,and British health insurer Bupa.
The company started operations with initial paid-up capital of Rs 150 crore and invested about 80 crore during nine months to increase its reach and operation.
The other two stand-alone health insurance companies in India are Star Health and Allied Insurance and Apollo Munich Health Insurance.
Max Bupa offers two products in the individual retail segment from its stable and is planning to launch few more products in the coming months.
Talking about finding of Bupa’s Health Pulse 2010 report,Marmion said that diabetes and heart disease have emerged as major health hazard for Indians in the last decade due to lifestyle and eating anomalies.
According to the report,41 per cent of Indians say diabetes is one of the top three diseases they are most worried about developing,while half 50 per cent,point to heart disease,he said.
Citing the report,he said over half (55 per cent) of Indians have had a check-up with their doctor to assess their risk of developing a chronic disease,24 per cent have paid for a health assessment,23 per cent have done personal research online while 9 per cent have participated in a national screening programme.
A quarter (25 per cent) of Indians say they have done nothing to assess their risk of developing a chronic disease,he said,adding,this is lower than the international average of 31 per cent who say they have done nothing to assess their risk,he said.