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LIC’s potential stake in ManipalCigna to boost health insurance market: JP Morgan

IANS by IANS
April 1, 2025
in Health
LIC’s potential stake in ManipalCigna to boost health insurance market: JP Morgan
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New Delhi, April 1 (IANS) The Life Insurance Corporation of India’s (LIC) potential acquisition of a 40-49 per cent stake in ManipalCigna Health Insurance could reshape the health insurance market, a JP Morgan report said on Tuesday.

According to the brokerage, the potential acquisition is expected to be a strategic move for LIC, leveraging its extensive agency distribution network of 1.4 million individual agents to scale its new health venture.

“Despite the relatively small size of ManipalCigna compared to LIC, the acquisition is anticipated to bring substantial value over the next few years,” the brokerage noted.

LIC India is reportedly in the final stages of acquiring a significant minority stake in ManipalCigna Health Insurance, a standalone health insurer.

The deal, valued at Rs 3,500-3,700 crore, would see LIC owning 40-49 per cent of ManipalCigna, which is currently owned by Manipal Education and Medical Group (51 per cent) and Cigna Holding Overseas (49 per cent).

JP Morgan analysts believe that LIC’s entry into the health insurance market could be disruptive, with competitive initial pricing aimed at gaining market share.

However, the key challenge for LIC will be managing the health loss ratio, a critical factor in ensuring the success of this venture.

ManipalCigna, with a market share of 1.4 per cent in the total health insurance industry and 4.7 per cent within the standalone health insurance space, has shown promising growth.

“LIC’s competitive advantage in the health insurance space lies in its economies of scale, majorly due to its established agency distribution,” the brokerage noted.

Despite industry debates, LIC has continued to expand its coverage. The insurer reported a 28.29 per cent rise in group yearly renewable premiums and a 7.9 per cent growth in individual premiums during the first 11 months of FY25.

As of February 2025, its total premium collection reached Rs 1.90 lakh crore, up 1.90 per cent from the previous year.

In February alone, LIC issued 12.02 lakh policies in the individual segment, while the group yearly renewable category recorded 1,430 policies and schemes. Across all categories, LIC’s total number of policies stood at 12.04 lakh for the month.

—IANS

na/

*Except for the headings & sub-headings, this story has not been edited by The enewstime.in and has been published from IANS feed.

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