Tata Capital Fund has picked up 14.3 per cent stake in Star Health Insurance by investing Rs.120 crore.
Stating that the deal was wrapped up a few days ago, Star Health Insurance Chairman-cum-Managing Director V. Jagannathan said while Rs.110 crore had already been invested, the balance would come in shortly. In the wake of this, the promoters holding in the company has come down.
New policy
Mr. Jagannathan was addressing presspersons at the launch of ‘Star Health Cardiac Care’ policy here on Friday. Adyar Cancer Institute chairperson V. Shantha launched the insurance product at a function.
A press release said the product was first of its kind. The special feature of the product is to insure persons who have undergone CABG (Bypass)/PTCA (stenting) between six months and three years prior to inception of policy. “This cover for heart ailment also includes protection for regular in-patient hospitalisation for other illnesses as well,” the release said.
Star Health Insurance, Mr. Jagannathan said, was keen on introducing such specially-designed policies.
The company, he added, would be working towards introducing a policy for those with cancer, something that was suggested by Dr. Shantha.
In the current fiscal, the company would continue its thrust on marketing its products to individuals.
