HDFC Ergo Targets 18% Growth in Retail Health Insurance | FY25

Kolkata, Dec 5 (PTI) Private general insurer HDFC Ergo, promoted by erstwhile HDFC (now HDFC Bank) and Ergo International AG, is aiming at a premium income growth of 18 per cent during the current financial year in retail health insurance, an official of the company said on Thursday.

Parthanil Ghosh, director and chief business officer of HDFC Ergo, told reporters here that in the last fiscal, premium income earned by the insurer was Rs 4,000 crore in the retail health insurance vertical, garnering a market share of nine per cent nationally.

Ghosh said in the first half of the current financial year, the company earned a premium income of around Rs 2,000 crore in retail health insurance, registering a growth of 18 per cent over the similar previous period.

"We are aiming at a growth of 18 per cent for the full financial year in earning retail health insurance", he said.

In West Bengal, HDFC Ergo earned a retail health insurance premium of Rs 240 crore, he said.

The company in the last fiscal, settled claims worth Rs 2,900 crore pan-India, with Rs 100 crore in West Bengal.

He said that pre-approved cashless facility for treatments like chemotherapy and dialysis for chronic patients have been introduced by the insurer. PTI dc