Aditya Birla Nuvo forms JV with South Africa’s MMI Holdings

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appointmentAditya Birla Nuvo Ltd (ABNL) entered a joint venture with MMI Holdings, a South African insurance based financial services group, to foray into Indian health insurance and wellness market.

ABNL will hold 51 per cent share in the joint venture company named Aditya Birla Health Insurance Co Ltd (ABHICL), subject to the regulatory approvals,” the company said in a filing to the BSE.

ABHICL is reportedly in the process of making an application to the Insurance Regulatory and Development Authority of India for license to start health insurance and wellness business operations.

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