GIC Invests in India’s Star Health and Allied Insurance
Posted on 06/03/2021
Singapore’s GIC Private Limited led the pre-IPO funding round with around Rs 600 crore investment in health insurer Star Health and Allied Insurance Co Ltd. The Capital Group invested around Rs 300 crore. The total pre-IPO funding amount was Rs 1,200 crore.
Star Health and Allied Insurance reported a 36.7% growth in its gross premiums in fiscal year 2021.
Star Health and Allied Insurance is backed by billionaire Rakesh Jhunjhunwala and Westbridge Capital.