Abu Dhabi Investment Authoritywill own a 9.99% stake in the insurer after the deal.
- The health insurer plans to use this capital to boost its growth.
- ADIA sees significant potential in the Indian health insurance sector, driven by greater awareness and broader economic growth.
Abu Dhabi Investment Authority (ADIA) today invested ₹665 crore in
Following the investment, Aditya Birla Capital will own a 45.91% stake and Momentum Metropolitan Holdings will own a 44.10% stake in the company. ADIA becomes the third partner in the insurance company created as a joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments; in 2016.
The health insurer plans to use this capital to stimulate growth.
Hamad Shahwan Al Dhaheri, executive director of ADIA, says he sees significant potential in the Indian health insurance sector, driven by greater awareness and broader economic growth.
“This partnership with ADIA reinforces our determination to further expand the company’s ‘Health-First’ proposition as we empower our customers to lead healthy lives. We remain committed to this promise and have reinvented our business model and customer engagement accordingly by creating differentiated products, a digital health ecosystem and a large distribution presence across the country,” said Mayank Bathwal, CEO of Aditya Birla Health Insurance.
Aditya Birla Health Insurance has a nationwide distribution position in more than 4,800 cities through branches and partner offices, 14 bancassurance partners and more than 68,000 direct sales agents.
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