UK’s Bupa Insurance will raise stake in its Indian health insurance venture, Max Bupa, to 49% from the current 26%, becoming the first foreign company to announce a hike in shareholding following amendments to the insurance laws. The government has permitted foreign investment of up to 49% in the insurance sector, from a limit of 26% previously.
Bupa will submit formal applications to the relevant authorities for the regulatory approvals required in order to increase its stake.
Max Bupa, standalone private health insurer, is a joint venture between Max India (with 74% stake) and UK-based global healthcare group Bupa (26%).
