HDFC Ergo Targets 18% Growth in Retail Health Insurance Premium

HDFC Ergo, a general insurer, aims for an 18% increase in premium income from retail health insurance this fiscal year. Last year, the company earned Rs 4,000 crore in this segment. In the first half of the current year, HDFC Ergo achieved Rs 2,000 crore in premiums.

Private general insurer HDFC Ergo is setting its sights on an 18% growth in premium income in the retail health insurance sector this fiscal year, according to company officials speaking on Thursday.

Parthanil Ghosh, director and chief business officer of HDFC Ergo, revealed that last fiscal year, the company secured a premium income of Rs 4,000 crore in its retail health insurance division, capturing a national market share of nine percent.

The insurer reported that in the first half of this financial year, it achieved Rs 2,000 crore in premium income, marking an 18% growth compared to the same period last year, with West Bengal contributing Rs 240 crore. Additionally, HDFC Ergo introduced a pre-approved cashless facility for treatments like chemotherapy and dialysis.

(With inputs from agencies.)