Galaxy Insurance Targets Rs 200 Cr Premium This Fiscal

Chennai: Galaxy Health Insurance Company Ltd has targeted Rs200 crore premium income during the current financial year as it aims to deepen penetration into the domestic market, a top official said. The company which received the IRDAI approval last year has 60 offices in operation in Southern states and 6,000 agents under its fold, company Managing Director and CEO G Srinivasan said.

Galaxy Health Insurance is relatively a new entrant in the private sector insurance market backed by renowned industrialist Venu Srinivasan, the Chairman Emeritus of TVS Motor Company and Sundaram-Clayton and V Jagannathan who founded the Star Health and Allied Insurance Company Ltd. In an interaction with media, Srinivasan who has been at the helm of various insurance organisations including United India, said his company has drawn up plans to 'penetrate deep into the market' and has targeted to take the overall number of office locations to 100 from the current 60.