Life Insurance Corporation of India is in discussions to acquire as much as half the stake in ManipalCigna Health Insurance , as the country's largest insurer seeks an entry into the fast-growing, yet underserved, market for medical expenses coverage, people familiar with the matter said. ManipalCigna is a joint venture between Manipal Education & Medical Group and US-based Cigna Corporation. Preliminary Talks The Bengaluru-based group holds a 51% stake in the standalone health insurance company, while Cigna Corporation owns the remaining 49%.
If a deal is finalised, it will allow state-run LIC to diversify from its life insurance portfolio and tap into the increasing demand for health insurance that constitutes 37% of the ₹3 lakh crore general insurance industry. "Both parties have signed a non-disclosure agreement and are moving forward with discussions for LIC to acquire approximately a 50% stake in the venture," said a person familiar with the matter, adding: "As per preliminary talks, both Manipal Group and Cigna Corporation will reduce their stakes proportionately." Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Startup Fundraising: Essential Tactics for Securing Capital By - Dr.
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