Private insurer Cigna TTK today said it has filed an application with the insurance regulator, for a change in partnership from the TTK Group to the Manipal Group.
"We have filed the application for change in partnership with the Insurance Regulatory and Development Authority of India (IRDAI). We have applied for the Manipal Group will buy out 51 per cent stake of TTK Group. We expect the transition to take place before the end of this calender year," Cigna TTK Health Insurance managing director and CEO, Sandeep Patel told PTI here.
This is subject to regulatory approval, he said.
The Manipal Group is into health care delivery and higher education.
He said the partnership will help the firm to provide customers with a more comprehensive suite of health care solutions and enable them to further integrate within the health care delivery ecosystem.
However, Patel said, in order to minimise disruption in the customer experience in the company it will consult with them before taking any decision on changing the name after the change in partnership.
Cigna TTK Health Insurance is a joint venture between global health services firm Cigna and TTK, which launched operations in India in February 2014.
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