Meerut: Cigna TTK Health Insurance, a joint venture between U.S. based global health service leader, Cigna Corporation (NYSE:CI), and Indian conglomerate TTK Group and Manipal Group announced today that it has changed its company name to ManipalCigna Health Insurance Company Limited after receiving all necessary regulatory approvals. Under the new structure,Cigna Corporation will continue to hold its 49 percent stake, while Manipal Group will increase its stake to51 percentand TTK Group planto exit from this joint venture after receiving all necessary regulatory approvals from the Insurance Regulatory and Development Authority of India (“IRDAI”).To learn facts about ManipalCigna Health Insurance, visit.
Along with the name change, the company has adopted a new corporate identity, including a new logo and website that can be found at www.manipalcigna.com.The changes are effective immediately, and all future business activity will be under the new company name.
Jason Sadler, President, Cigna International Markets said, “India’s insurance sector has tremendous growth potential – it is evolving rapidly, and is an important market for Cigna. Over the past five years, we have made great progress in this growing market and we greatly appreciate TTK Groups’ support in playing an important role in strengthening our position in India. We strongly believe our new joint venture with Manipal Group will now allow us to further expand our existing relationships, explore new markets, and drive innovative solutions and capabilities to better serve our customers, employees, clients, and partners.”
Dr Ranjan Pai, Chairman, Manipal Edu and Medical Group said, “We believe the combination of Manipal Group’s integrated healthcare expertise with multi-specialty hospital networks and Cigna‘s global expertise in health and wellness, positions ManipalCigna Health Insurance Company as a truly differentiated healthcare providerfor people across India.The two organisations are a good cultural fit and drawing on the strengths of both companiestogether we can provide easy and lifetime access to quality healthcare to millions of people in India and create a strong path for our future growth.”
Manipal Group has diversified and established business models to serve the needs of its customers. This includes building world-class hospitals, fostering preventive healthcare processes, and nurturing best medical faculties through education institutions.With more than 200 years’ experience, Cigna Corporation operates in 30 countries and jurisdictions and has more than 160million customer relationships worldwide. The company has adopted its new name as a reflection of the brand value of its partnership and to demonstrate its commitment to bridge the gap between healthcare delivery and healthcare financing in the Indian market.
