Royal Sundaram Alliance Insurance Co., a joint venture between Sundaram Finance and Royal & SunAlliance Plc., UK, has recently expanded the network of hospitals where its health insurance is accepted. The company has tied up with 1,021 hospitals in India—a jump of more than 191% in affiliated hospitals since March last year. The list is small when compared with other public sector insurance companies that have tie-ups with as many as 3,714 hospitals. Royal Sundaram officials say they plan to expand their relationship with more hospitals in the coming months. The partnership will allow Royal Sundaram health insurance subscribers get cashless service at more hospitals.
During 2006-07, Royal Sundaram’s health insurance portfolio grew by more than 90%. The company is the seventh-largest player in the health insurance market with a total premium collection of Rs96 crore, compared with Rs51 crore in fiscal 2006. It reported a gross premium of Rs601 crore and a profit after tax of Rs21 crore for the year ended 3 March 2007.