Galaxy Health Insurance Aims High: Rs 450 Crore Premium Target by 2026

Galaxy Health Insurance, India's youngest standalone health insurer, is setting ambitious goals to reach a premium of Rs 450 crore by the fiscal year 2026-27. The company plans to break even within four years, according to Managing Director and CEO G Srinivasan, who announced these targets on Wednesday.

The insurer, which is supported by TVS Group's Venu Srinivasan and insurance veteran V Jagannathan's family, has already collected Rs 40 crore in premiums since April. It has an interim goal of Rs 200 crore by the fiscal year 2025-26. Focused on market penetration, Galaxy Health Insurance offers innovative products promoting wellness and easy claims, significantly targeting the OPD sector.

Expanding its reach, the company operates in eight states, covers 1.2 lakh lives, and boasts a network of 6,000 hospitals. The recent launch of a regional office in Kolkata marks its strategic entry into West Bengal, where plans include signing 1,000 agents and covering 5,000 lives by FY 2026. Operating through 71 offices nationwide, the insurer aims to make health protection more accessible.

(With inputs from agencies.)