Cigna TTK Health Insurance, which is a joint venture between US health service provider Cigna Corporation and Indian conglomerates TTK Group and Manipal Group has changed its name to ManipalCigna Health Insurance Company. Under the new structure, Cigna Corporation will continue to hold 49% stake, while Manipal Group will increase its stake to 51%. TTK Group is expected to exit from the joint venture after receiving all necessary regulatory approvals from the Insurance Regulatory and Development Authority of India. The company has also adopted a new corporate identity, including a new logo and website. 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, the company has made great progress in this growing market and it appreciates TTK Groups’ support in playing an important role in strengthening its position in India. Dr Ranjan Pai, chairman, Manipal Edu and Medical Group said 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 provider for people across India.
