Their range of products includes a comprehensive suite of health insurance plans catering to individuals, families, and groups, covering hospitalization, critical illnesses, personal accidents, and international healthcare needs, along with riders to enhance coverage. Key features of their plans often include cashless hospitalization at a wide network of hospitals, coverage for pre and post-hospitalization expenses, daycare procedures, domiciliary treatment, AYUSH treatment, and some plans even offer international coverage and wellness programs. ManipalCigna emphasizes customer service and aims to provide accessible and quality healthcare solutions through a dedicated customer service team and online platforms for policy management and claims. The company reports a high claim settlement ratio, indicating their efficiency in processing claims, and they offer 24/7 claim assistance. With a significant network of hospitals across India, policyholders can conveniently access cashless treatment. ManipalCigna also often incorporates wellness programs and rewards to encourage healthy lifestyles among their customers
Latest News on ManipalCigna Health Insurance
ManipalCigna Sarvah has been named the ‘Product of the Year 2025’ in the health insurance category.
ManipalCigna Health Insurance, a leading standalone health insurer in India, has received the prestigious ‘Product of the Year 2025’ award in the Health Insurance category for its flagship product, ManipalCigna Sarvah. This recognition is based on an independent consumer survey conducted by NielsenIQ, which celebrates the product’s strong consumer appeal, innovative features, and relevance to evolving healthcare needs across India.
The Product of the Year award is the world’s largest consumer-voted award for product innovation, and it serves as an internationally recognized certification of excellence in consumer products and services. ManipalCigna Sarvah is an inclusive health insurance offering that caters to the healthcare needs of every Indian, regardless of their location or financial situation.
The product offers three differentiated plan options: ManipalCigna Sarvah Uttam, which features a customizable plan with infinite coverage; ManipalCigna Sarvah Param, which delivers zero waiting period coverage; and ManipalCigna Sarvah Pratham, which provides essential health insurance coverage. These plans are designed to meet diverse healthcare needs and offer standout features such as the Anant benefit, Gullak rewards, and flexibility through different plan options.
According to Shashank Chaphekar, Chief Distribution Officer, ManipalCigna Health Insurance, “Sarvah is an inclusive health insurance offering, thoughtfully designed to cater to the healthcare needs of every Indian.” Sapna Desai, Chief Marketing Officer, added that the product’s name, “Sarvah,” which means “For all,” was born out of deep consumer insight, and the company wanted to create a product that would resonate with every individual, regardless of their financial or health journey.
This recognition reinforces ManipalCigna’s dedication to building need-based health insurance solutions that are accessible, relevant, and designed to deliver lasting value. ManipalCigna Health Insurance Company Limited is a joint venture between Manipal Group and Cigna Healthcare, with over 100 branch offices and a strong multi-distribution network of over 70,000 agents and 500+ distribution partners across India. The company has a network of over 15,000 hospitals across cities, including tier I, tier II, and tier III towns in India.
LIC is reportedly making an entry into the health insurance market by acquiring a stake in ManipalCigna.
According to a recent report, Life Insurance Corporation of India (LIC) is considering a foray into the health insurance market by acquiring a stake in ManipalCigna Health Insurance Company. This move is seen as a strategic expansion of LIC’s business portfolio, which currently dominates the life insurance market in India.
ManipalCigna Health Insurance is a joint venture between Manipal Group and Cigna Corporation, a global health insurance company. The company offers a range of health insurance products and services in India, including individual and group health insurance plans, critical illness coverage, and top-up plans.
If the deal goes through, LIC’s acquisition of a stake in ManipalCigna Health Insurance would mark its entry into the health insurance market, which is currently dominated by private players such as Max Bupa, Apollo Munich, and Star Health. The move would also enable LIC to leverage its vast distribution network and customer base to sell health insurance products.
The report suggests that LIC is looking to acquire a significant stake in ManipalCigna Health Insurance, which could range from 20% to 40%. The deal is expected to be valued at around Rs 1,000-1,500 crore (approximately $137-$204 million USD).
LIC’s foray into the health insurance market is seen as a natural extension of its business, given the growing demand for health insurance products in India. The company’s vast distribution network, which includes over 2,000 branches and a large network of agents, would provide a significant advantage in selling health insurance products.
The acquisition would also enable LIC to diversify its revenue streams and reducing its dependence on the life insurance business. The health insurance market in India is expected to grow rapidly in the coming years, driven by increasing healthcare costs, rising awareness about health insurance, and government initiatives to promote health insurance.
Overall, LIC’s potential acquisition of a stake in ManipalCigna Health Insurance is seen as a strategic move to expand its business portfolio and tap into the growing demand for health insurance products in India. The deal would also provide a significant boost to the health insurance market in India, which is expected to witness rapid growth in the coming years.
LIC to acquire a substantial stake in a pure health insurer, with an announcement expected by March 31.
The Life Insurance Corporation of India (LIC) is in the final stages of discussions to acquire a substantial stake in a pure health insurance company. According to Siddhartha Mohanty, Managing Director and CEO of LIC, the company is likely to announce the decision before March 31. This move is seen as a natural choice for LIC to expand its presence in the health insurance market. While Mohanty declined to reveal the name of the health insurer, reports suggest that LIC is in talks with Manipal Cigna Health Insurance.
LIC has clarified that it is not seeking a 51% stake in the health insurer, but rather a substantial stake that would broaden its footprint in the health insurance market. The company has emphasized that regulatory approvals are still pending and there is no guarantee that the deal will be consummated. Currently, there are seven standalone health insurance companies in India, including Star Health & Allied Insurance, Niva Bupa Health Insurance, and Care Health Insurance.
In a separate development, Mohanty revealed that LIC has requested the Reserve Bank of India (RBI) to issue additional long-term bonds with maturities of 50 years and 100 years. This move is aimed at enabling LIC to better manage its investments and asset-liability mismatch, given its long-term contractual obligations to policyholders. While the RBI currently permits bonds with maturities of 20 to 40 years, 100-year bonds are not uncommon in global markets.
The potential acquisition of a health insurance company and the request for longer-term bonds are seen as strategic moves by LIC to expand its presence in the insurance market and manage its investments more effectively. As a public sector behemoth, LIC’s decisions are closely watched by the industry and investors. The company’s plans to enter the health insurance market and its request for longer-term bonds are likely to have significant implications for the insurance industry and the broader financial markets.
ManipalCigna Health Insurance has appointed Joydeep Saha as its new Managing Director and Chief Executive Officer.
ManipalCigna Health Insurance, a leading standalone health insurance company in India, has appointed Joydeep Saha as its new Managing Director and Chief Executive Officer. The appointment was made after receiving regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). Joydeep brings over two decades of experience in the insurance industry, with expertise in actuarial science, product development, and business strategy.
Joydeep has been associated with ManipalCigna for over seven years, previously serving as Appointed Actuary and Chief Officer. He holds a Master’s degree in Applied Statistics and Informatics from the Indian Institute of Technology, Bombay. Jérôme Droesch, CEO of Cigna Healthcare International Health, expressed confidence in Joydeep’s ability to lead the company into its next phase of strategic growth, citing his deep understanding of the organization and the health insurance industry.
S Vaitheeswaran, Vice Chairman of Manipal Education & Medical Group, also praised Joydeep’s experience and commitment, stating that his extensive tenure and institutional knowledge make him perfectly positioned to lead the business into the future. Joydeep will work closely with the leadership team to expand the company’s distribution channels, strengthen the brand, and create long-term value for the organization and its customers.
Joydeep expressed his enthusiasm for the appointment, stating that the health insurance industry is undergoing rapid transformation, and ManipalCigna is well-positioned to lead this change. He looks forward to expanding the company’s reach, leveraging technology to enhance customer experience, and further strengthening its market leadership. ManipalCigna has created a niche in the health and wellness sector by offering innovative products and services to its customers.
The appointment of Joydeep Saha as MD and CEO underscores ManipalCigna’s commitment to building a leadership team with a deep understanding of the industry and a passion for delivering customer value. With Joydeep at the helm, the company is expected to continue its growth trajectory and strengthen its market position in the dynamic and evolving health insurance industry. Overall, Joydeep’s appointment is a positive development for ManipalCigna, and the company is poised to achieve great things under his leadership.
The Manipal Health Enterprises Limited is set to acquire a 40-49% stake in ManipalCigna Health Insurance Company, valuing the company at approximately ₹3,500 crore.
Life Insurance Corporation of India (LIC) is on the verge of finalizing a deal to acquire a significant minority stake in ManipalCigna Health Insurance, a rapidly growing standalone health insurance company. This move marks LIC’s entry into the domestic health insurance market, which accounts for 37% of the country’s Rs 3 lakh crore general insurance market. The deal will see LIC acquire a 40-49% stake in ManipalCigna, valuing the company at Rs 3,500-3,750 crore. The transaction will also involve a smaller secondary share sale by the current shareholders.
This partnership is expected to be a three-way partnership among LIC, Manipal Education & Medical Group, and Cigna Corporation of the US, with the latter two currently holding a 51:49 shareholding in the company. LIC will infuse fresh capital into the company, diluting the existing shareholdings of the two partners. The deal is expected to be a board-run company, with representation proportionate to their shareholdings.
The partnership is significant as it marks LIC’s entry into the health insurance market, which is growing at a rate of 20% annually. The sector is expected to accelerate growth with LIC’s massive distribution network and balance sheet, disrupting the market. The deal is expected to be finalized by March-end, with LIC’s managing director and chief executive, Siddhartha Mohanty, stating that the company is looking to enter the health insurance space.
The health insurance sector is expected to intensify competition, with listed health insurers trading at a price-to-gross-written-premium (GW) ratio of 1.5-2.5 times. ManipalCigna, with a GW of Rs 1,691 crore in FY24, is expected to be valued at Rs 3,500 crore, making it an attractive acquisition target for LIC. The deal is expected to be a win-win for all parties involved, with ManipalCigna leveraging LIC’s vast distribution network and resources to grow its business.
Recent Updates
No Results Found
The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.