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Care Health Insurance Ltd (Religare Health) Unlisted Shares
Care Health Insurance Ltd (Religare Health) Unlisted Shares
Healthcare
*The above chart is presented for indicative purposes only and may not be accurate. The figures represented above are taken on an average basis, and may or may not match with the prevailing situation. Users are requested to not completely rely on the above chart and to consult an independent financial adviser and to take their investment decisions.
Overview
Care Health Insurance Limited (Religare Health) | Care Health Insurance Unlisted Shares
Overview of Care Health Insurance Unlisted Shares
Care Health Insurance is a dedicated health insurance provider that offers various products in the retail sector, including Health Insurance, Top-up Coverage, Personal Accident, Maternity, International Travel Insurance, and Critical Illness Coverage. They also provide Group Health Insurance and Group Personal Accident Insurance for corporate clients, micro-insurance products for rural areas, and a comprehensive range of wellness services. The company follows a consumer-centric approach and has consistently focused on utilizing technology to enhance customer service, develop innovative products, and provide cost-effective services.
Care Health Insurance received recognition and accolades for its outstanding performance in the insurance industry. In 2022, they were honored with the titles of 'Smart Insurer of the Year' and 'Sales Champion of the Year' at The Economic Times Insurance Summit & Awards. Their excellence was further acknowledged at the Insurance Alertss Awards in 2021, where they were awarded the titles of 'Best Health Insurance Product' and 'Best Health Insurance Agents'. Additionally, in 2019, they were recognized with the esteemed 'Best Medical/Health Insurance Product Award' at the FICCI Healthcare Excellence Awards.
In July 1982, the Company obtained its approval from IRDA (Insurance Regulatory and Development Authority) and has since become one of the five private sector insurers specializing in underwriting policies solely in the domains of health, personal accident, and travel insurance.
Care Health Insurance Unlisted Shares Price
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Incorporated On
Care Health Insurance, previously known as Religare Health Insurance, was established as a joint venture involving Religare Enterprise Private Limited, Union Bank of India, and Corporation Bank. The company was officially incorporated on April 2nd, 2007
Industry
Care Health Insurance (earlier known as Religare Health Insurance) is a diversified financial services group present across three verticals. The company provides a comprehensive range of financial services through its subsidiary and operating entities, which encompass SME loans, Affordable Housing Finance, Health Insurance, and Retail Broking.
Location
Care Health Insurance operates an extensive network of 156 branches and serves over 700 locations nationwide. With a dedicated workforce of over 8600 employees, the company has established partnerships with more than 10,000 hospitals. Their diverse range of 18 products includes group insurance, travel insurance, and fixed benefits, catering to the needs of a wide range of customers.
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Awards & Accolades of Care Health Insurance Unlisted Shares
The company has received the following awards:
- The company was honored with the prestigious "Best Claims Service Leader of the Year" award at the Insurance India Summit & Awards 2018.
- Best Health Insurance Company at Emerging Asia Insurance Awards, 2019
- The company received the esteemed "Best Medical/Health Insurance Product Award" at the FICCI Healthcare Excellence Awards in 2019.
Products of Care Health Insurance
- Health Insurance
- Travel Insurance
- Corporate Insurance
Industry Opportunities
The implementation of health insurance portability is anticipated to enhance the systematic expansion of the health insurance industry.
- Insurance providers currently cover approximately 1.5 to 2.0% of the overall healthcare expenditure in India.
- In urban areas, approximately 18% of individuals and in rural areas, approximately 14% of individuals are enrolled in some form of health insurance scheme.
- In FY20 (till May 2019), the gross direct premium generated from health insurance amounted to Rs 848.4 lakhs (US$ 1.21 billion), accounting for 30.2% of the total gross direct premiums of non-life insurance companies in India.
- RSBY is a scheme that receives central sponsorship and aims to offer health insurance coverage to families below the poverty line (BPL) and eleven additional groups of unorganized workers, such as building and construction workers, licensed railway porters, street vendors, and MGNREGA workers, among others.
Care Health Insurance Investment Rationale
Care ensures a 93% insurance claim settlement ratio and offers cashless treatment at over 7800 network hospitals. They provide round-the-clock customer support and ensure that all family members receive the benefits under the coverage.
- For the fiscal year of 2019, Care Health Insurance achieved a claims settlement ratio of 92.83%.
- During the year 2020, Kedaara Capital injected INR 567.3 Crores into the company as an investment.
- The company prioritizes its customers and maintains a strong focus on their needs, resulting in a low grievance rate of only two complaints per 10,000 policies. Additionally, it boasts an impressive claim settlement ratio of 93%.
- The company has established partnerships with over 10,000 hospitals to provide seamless cashless services to its customers.
- Care Health Insurance ranks 9th in Health Insurance Segment as of March 2020.
- The standalone Health Insurance (SAHI) industry witnessed a 27% growth, while Care Health Insurance experienced overall business growth of 31%.
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Board Members
| Members | Designation |
| Dr. Rashmi Saluja | Non-Executive Chairperson |
| Mrs. Asha Nair | Non-Executive Independent Director |
| Dr. Vijay Shankar Madan | Non-Executive Independent Director |
| Mr. Hamid Ahmed | Non-Executive Independent Director |
| Mr. Malay Kumar Sinha | Non-Executive Independent Director |
| Mr. S.L.Mohan | Non-Executive Independent Director |
| Kt.Gen.(Retd.) S.S.Mehta | Non-Executive Independent Director |
| Mr. Anuj Gulati | Managing Director & CEO |
| Mr. Kartikeya Dhruv Kaji | Non-Executive Director |
Consolidated Results
Financial Highlights of last 2 years
| Particulars (All values in Cr.) | FY22 | FY21 |
| Gross Written Premium | 3947.44 | 2588.02 |
| Net Written Premium | 3088.42 | 1980.83 |
| Net Earned Premium (A) | 2510.84 | 1729.47 |
| Net Incurred Claims (B) | 1633.73 | 953.82 |
| Net Commission © | 110.17 | 26.61 |
| Expenses (D) | 1077.92 | 728.2 |
| Premium Deficiency (E) | -135.88 | 111.42 |
| Investment & other Income (F) | 190.65 | 166.06 |
| Profit/(Loss) Before Tax (A-B-C-D-E+F) | 15.55 | 75.48 |
| Provision for tax | 1.84 | 15.42 |
| Deferred tax expense/(Income) | 2.21 | -42.16 |
| Profit / (Loss) After Tax | 11.5 | 102.22 |
Reports
Company Details
| Particulars | Details |
|---|---|
| Face Value (INR) | 10 |
| ISIN | INE119J01011 |
News
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The financials are available in the Research Report, DRHP, and Annual Reports of Care Health Insurance Ltd Unlisted Shares, which may be found under the Reports section of the company's specific page. You can download all the reports after logging in.
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If you liquidate the Care Health Insurance Ltd unlisted shares within 2 years of its acquisition, then you will be required to pay tax on the short-term capital gain (STCG) as per the individual tax slab rate. Liquidating the shares after 2 years will attract a long-term capital gain (LTCG) which will be taxed at the rate of 20% with indexation benefit or 10% without indexation benefit.
Investors should consult with an independent third-party taxation advisor prior to making investment decisions.
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The following is the process to liquidate Care Health Insurance Ltd unlisted shares on TradeUnlisted platform:
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