TVS Group Ventures Into Health Insurance Sector

Competition intensifies in the standalone health insurance sector as a new player, Galaxy Health and Allied Insurance, receives regulatory approval from IRDAI. This joint venture between Star Health Founder V Jagannathan and TVS marks the entry of the seventh insurer into the health insurance market. IRDAI's recent issuance of the Certificate of Registration to Galaxy Health and Allied Insurance Company Limited expands the options available to consumers in the health insurance segment.

Earlier, Narayana Health also received regulatory approval to launch its health insurance business, further diversifying the offerings in the market. Narayana Health, renowned for its extensive hospital chain and heart centers across India, brings its expertise to the insurance sector, contributing to the growing competition and innovation in health insurance products and services.