The New Delhi-based financial services firm Religare has said that the remuneration, including salary and employee stock options (ESOP), was ?42.06 crore for the financial year ending March 2023.
| Quantity | Rate/Share |
|---|---|
| 100 - 1000 | 188.00 |
| Financial Year | Particulars | Record Date | Ratio/Rates/Amount | Remarks |
|---|---|---|---|---|
| 2022-23 | RIGHTS | 12-Aug-2022 | 1:34 | Right Issue announced, face value of Rs.10 @ premium of Rs.100, 1 share for 34 shares. |
About of Care Health Insurance Ltd (Religare)
Care Health Insurance Limited, a direct subsidiary of Religare Enterprises was established in July 2012. With more than 8,500 employees, it operates out of 158 offices across India, with its headquarters located in Gurgaon, Haryana. It offers a vast array of services and products such as Retail Health Indemnity products, Group Health products, Travel Products, Fixed Benefit Products.
Overview of Care Health Insurance Ltd (Religare)
Care Health Insurance is a specialized health insurer offering health insurance services to employees of corporates, individual customers, and for financial inclusion as well. With its operating philosophy being based on the principal tenet of ‘consumer-centricity’, the company has consistently invested in the effective application of technology to deliver excellence in customer servicing, product innovation, and value-for-money services.
Care Health envision a financially secure future for our customers through the delivery of customized health insurance plans such as Family Floater Plans, Senior Citizens Health Plans, Diabetes Cover, Maternity Cover, Critical Illness Cover, and specific travel insurance plans while guaranteeing the benefits of hassle-free claims procedures.
Care Health Products
Health Insurance Products
- Care - A comprehensive Health Insurance plan to meet variant healthcare needs, CARE, has been our flagship product since inception. What makes it popular is the ability to choose your cover from a range of optional benefits, as per your requirements.
- Care Advantage - A Comprehensive Health Insurance that provides higher Sum insured at affordable premium. It caters market, which is price sensitive.
- Care freedom - A comprehensive Health Insurance Plan for senior citizens and individuals with pre-existing medical conditions. It is offered without pre-policy medical checkups and there is no loading based on health condition.
- Care Heart - Product specifically designed for someone with a pre existing heart disease i.e. someone who has undergone a heart surgery in the last 7 years § Cover without any Pre Medical Tests at any age § Patients suffering from specific pre-existing heart conditions.
- Super Mediclaim - Indemnity Coverage for specific critical illnesses and surgeries at highly affordable premiums (Premium Instalment options) with IPD as well as OPD coverage & lifelong renewability.
- Joy - A Maternity Health Insurance product specially designed for young couples who are planning a family. While the focus is on maternity related hospitalization, this product will cover you for any hospitalization during the policy tenure.
- Enhance - A Super-Top Health Insurance plan for those who aspire for high sum insured at competitive prices. Enhance is most popular among those who already have a health insurance policy of a lower sum insured, and would want to increase their sum insured to address medical emergencies.
- Domestic Staff Add-on - Add-on product that offers health coverage to the domestic staff of existing Policyholders of retail Health Products
- Care Shield - Add-on product which offers protection against inflation, NCB reduction and provide coverage of non-payable items in retail policies.
- Arogya Sanjeevani Policy - Standard retail indemnity product which is simple, affordable and designed to meet customers’ basic Insurance Needs.
- Corona Kavach Policy - A standardised short term indemnity health insurance plan designed to safeguard you and your family from COVID-19. Period of coverage ranges from 3 ½ to 9 ½ months.
- Covid Care - Indemnity based health insurance policy specifically designed to safeguard you and your family from COVID19 related expenses.
Group Health Products
- Group Care
- Group Care 360
- Group Global Care
- Grameen Care
- Group Credit Protection Product
Travel Products
- Explore
- Student Explore
- Group Explore
Fixed Benefit Products
- Secure
- Assure
Group Secure
Insights of Care Health Insurance Ltd (Religare)
Financial Overview
(₹ in crores)
|
Particulars |
FY-23 |
FY-22 |
YOY Growth |
|
Gross written Premium |
5237 |
3947 |
24.6% |
|
Net written Premium |
4591 |
3088 |
48.7% |
|
Net earned Premium |
3932 |
2511 |
56.6% |
|
Net insured claims |
2116 |
1634 |
- |
|
Net commission |
443 |
110 |
- |
|
Expenses |
1330 |
1078 |
- |
|
Premium Deficiency |
|
(135) |
- |
|
Investment & Other Income |
284 |
190 |
- |
|
Profit before tax |
328 |
15 |
- |
|
Profit after tax |
246 |
11 |
2136% |
Peer Comparison
|
Particulars |
Care Health |
Star Health |
|
Net Insured claims to Net Earned Premium Ratio |
54% |
65% |
|
Net commission to Net written premium ratio |
10% |
13.5% |
|
Expenses of management to Net written premium ratio |
38% |
30% |
|
Gross written Premium |
5237 Crores |
11000 Crores |
|
Mcap/GDP ratio |
2.69x |
3.11x |
|
EPS |
2.65 |
12.5 |
|
BVPS |
18.5 |
115 |
|
P/E |
68 |
45 |
|
P/B |
9.68 |
5 |
|
Net worth |
1750 Crores |
5430 Crores |
|
Return on Net worth |
14% |
11.4% |
|
CMP (30 Nov) |
179 |
575 |
|
Market Cap |
16826 Crores |
33300 Crores |
|
PEG Ratio |
0.03 |
0.28 |
Performance for Half Yearly FY-24
|
Growth (H1FY 24 YOY) |
Care Health |
Star health |
|
Gross Domestic Premium Income |
33% |
18% |
|
Net Earned Premium |
39% |
14% |
|
Combined Ratio |
98% |
98.44% |
|
Profit after tax |
40% |
35% |
As of September 2023, Care Health held a 22% market share in the health insurance sector and a 2.2% market share in the general insurance sector. Although Care health is a much smaller company than star health, it is expanding far more quicky.
Care Health IPO Plans
·Religare Enterprises initiates the IPO process for its health insurance subsidiary, Care Health Insurance.
·It could raise anywhere between 1500-2000 crore from the IPO, which could see about 15-20% of equity dilution.
·Funds raised are likely to be used towards enhancing solvency and providing growth capital to the Health insurer.
Balance Sheet of Care Health Insurance Ltd (Religare)
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 |
|---|---|---|
| Equity | 1744.00 | 1289.00 |
| Share Capital | 942.00 | 909.00 |
| Reserves and Surplus | 801.00 | 380.00 |
| Non-Current Liabilities | 0.00 | 0.00 |
| Current Liabilities | 0.00 | 0.00 |
| Total Equity and Liabilities | 1744.00 | 1289.00 |
| Net Fixed Assets | 56.00 | 55.00 |
| Tangible Assets | 56.00 | 55.00 |
| Other Non current Assets | 5123.10 | 3606.03 |
| Non Current Investments | 5076.29 | 3566.08 |
| Net Deferred Tax Assets | 46.81 | 39.95 |
| Current Assets | -3435.77 | -2454.21 |
| Cash and Bank Balances | 99.81 | 78.60 |
| Short Term Loans and Advances | -3772.88 | -2690.29 |
| Other Current Assets | 237.30 | 157.48 |
| Total Assets | 1744.00 | 1207.00 |
Profit and Loss of Care Health Insurance Ltd (Religare)
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 |
|---|---|---|
| Net Revenue | 644.00 | 283.00 |
| Total Operating Cost | 425.27 | 332.34 |
| Other Expenses | 425.27 | 332.34 |
| Operating Profit (EBITDA) | 218.00 | -49.00 |
| Other Income | 109.51 | 64.92 |
| Profit Before Interest and Taxes | 328.00 | 16.00 |
| Profit Before Tax and Exceptional Items Before Tax | 327.96 | 15.55 |
| Profit Before Tax | 327.96 | 15.55 |
| Income Tax | 82.12 | 4.05 |
| Profit for the Period from Continuing Operations | 245.84 | 11.50 |
| Profit for the Period | 245.84 | 11.50 |
Management of Care Health Insurance Ltd (Religare)
ANUJ GULATI - Managing Director
Shareholding in the company - 2.25 %
PANKAJ KUMAR GUPTA - Chief Financial Officer
Shareholding in the company - 0.14 %
PRATIK KAPOOR - Company Secretary
Shareholding in the company - 0.01 %
KAJI KARTIKEYA DHRUV - Director
SIDDHARTH DINESH MEHTA - Director
ASHA NAIR - Director
SHAM LAL MOHAN - Director
SHAMSHER SINGH MEHTA - Director
MALAY KUMAR SINHA - Director
SUSHIL CHANDRA TRIPATHI - Director
RASHMI SALUJA - Director
FAQs of Care Health Insurance Ltd (Religare)
Press of Care Health Insurance Ltd (Religare)
21st Jun 2024
Care health insurance Ipo coming soon
Religare Ent Kickstarts #IPO Process For #CareHealth Insurance May Raise ?1,500-2,000 Cr; IPO To Have Secondary, Primary Sale Funds To Be Used To Enhance Solvency, Support Growth At Care Health Religare Ent Along With Other Shareholders May Sell Stake
21st Jun 2024
In mega deal, Blackstone acquires Hyderabad based CARE Hospitals, Keralas KIMSHEALTH for over $1bn
Global private equity giant Blackstone on Monday announced its debut in the Indian healthcare market with the acquisition of a majority stake in Hyderabad-based CARE Hospitals, which in turn has inked a definitive agreement to acquire a majority stake in Kerala-based KIMSHEALTH from PE player True North.
Annual Report of Care Health Insurance Ltd (Religare)
Care Health Annua; Report 2023Care Health Annual Report 2021
Care Health Annual Report 2020
Care Health Annual Report 2019
Company Information of Care Health Insurance Ltd (Religare)
ISIN: INE119J01011
Address: 5th Floor, 19, Chawla House, Nehru Place NEW DELHI DELHI 110019
Email: customerfirst@careinsurance.com
Phone Number: +91-1246-141810
Date of Incorporation: 02-Apr-2007
Date of Last AGM: 19-Sep-2022
Data as Date: 31-Dec-2023
Source of Data: MCA, Toffler, Probe42