Aditya Birla Health Insurance Revenue, Valuation, Funding & Investors

Aditya Birla Health Insurance is valued at $712M as of August 2022, a 4.1x multiple on its last reported $175M revenue.

Last Aditya Birla Health Insurance valuation

$712M

Secondary · Aug 2022

Last Aditya Birla Health Insurance funding round

$3M

Strategic investment · Dec 2024

Aditya Birla Health Insurance revenue

$175M

Secondary · Aug 2022

Key investors in Aditya Birla Health Insurance

Aditya Birla Health Insurance Overview

About Aditya Birla Health Insurance

Aditya Birla Health Insurance is a standalone health insurer formed as a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan, headquartered in Mumbai. Launched in 2021, it offers group and individual policies covering hospitalization, wellness benefits, and telemedicine. The company underwrote Rs 1,200 crore in premiums within its first two years, distributing via online portals and 500 agency partners.


Founded

2015

HQ

IndiaMumbai

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Product sales

Revenue

$175M (Aug 2022)

Valuation

$712M (Aug 2022)

Aditya Birla Health Insurance Valuation

Aditya Birla Health Insurance is currently valued at $712M, based on its secondary sale in August 2022.

The $84M round was led by Abu Dhabi Investment Authority.

Aditya Birla Health Insurance valuation by funding round

Aditya Birla Health Insurance valuation by funding round
DateStageValuationRevenue Multiple
Aug 2022Secondary$712M4.1x

Aditya Birla Health Insurance Revenue

Aditya Birla Health Insurance's latest recorded revenue is $175M, as of its secondary sale in August 2022. At a $712M valuation, that implies a 4.1x revenue multiple.

Aditya Birla Health Insurance revenue by funding round

Aditya Birla Health Insurance revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Aug 2022$175M$712M4.1xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Aditya Birla Health Insurance Funding History

Aditya Birla Health Insurance has raised a total of $3M across 1 funding round, plus 1 secondary share sale.

Aditya Birla Health Insurance funding rounds

Aditya Birla Health Insurance funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024Strategic investmentAditya Birla Capital (lead)$3M-Aditya Birla Health Insurance (ABHI) is a standalone health insurer operating as a subsidiary of Aditya Birla Capital, with a market share of 10.7% among standalone health insurers as of 9M FY24. On December 24, 2024, ABHI allotted equity shares worth ₹22.94 crore to Aditya Birla Capital via rights issue, maintaining the parent's ownership at 45.89%. The infusion aimed to strengthen ABHI's solvency margin to meet IRDAI's minimum 150% requirement. ABHI reported gross written premium (GWP) of 2,399 crore in 9M FY24, up 29% year-on-year, though it recorded a net loss of ₹65 crore in Q2 FY25, improved from ₹79 crore prior year. Combined ratio stood at 121% for 9M FY24. Aditya Birla Capital's total AUM across AMC, life, and health insurance reached 4,10,444 crore by December 31, 2023, up 13% year-on-year, supported by 1,462 branches pan-India.
Aug 2022SecondaryAbu Dhabi Investment Authority (lead)$84M$712MAditya Birla Health Insurance (ABHI) is a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments, offering a health-first insurance model in India. In August 2022, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) invested Rs. 665 crore for a 9.99% stake via primary capital infusion, valuing ABHI at Rs. 6,650 crore. The transaction was approved by the boards of Aditya Birla Capital and ABHI, subject to regulatory approvals including from IRDAI, and was completed with allotment of shares for Rs. 664.27 crore. Post-transaction, ADIA holds 9.99%, Aditya Birla Capital 45.91%, and Momentum Metropolitan Holdings 44.10%. ABHI reported revenue of Rs. 1,632.25 crore and net worth of Rs. 255.99 crore in FY 2021-22. The capital aims to fuel growth in India's health insurance market, where ABHI is noted as the fastest-growing standalone health insurer. In 9M FY23, ABHI's gross written premium grew 59% year-on-year to Rs. 1,858 crore, with retail and rural segments comprising 62% of business and market share among standalone health insurers rising 220 basis points to 10.4%.

Who has invested in Aditya Birla Health Insurance?

2 investors have backed Aditya Birla Health Insurance across its funding rounds, including Abu Dhabi Investment Authority and Aditya Birla Capital.

Lead investors include Aditya Birla Capital and Abu Dhabi Investment Authority.


Aditya Birla Health Insurance Investors

Investors in Aditya Birla Health Insurance by funding rounds participated
InvestorHQRoundsRoleFirst check

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Aditya Birla Health Insurance Competitors

Aditya Birla Health Insurance competitors include listed companies like Donegal Group, Eurohold Bulgaria, Tiptree and Root Inc., and private ones like Resilience Cyber Risk Solution and YuLife.

Public and private companies comparable to Aditya Birla Health Insurance
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Donegal GroupUnited StatesUnited StatesPublicly listed$978M$102M$711M0.8x
Eurohold BulgariaBulgariaBulgariaPublicly listed$1.9B$219M$768M-
TiptreeUnited StatesUnited StatesPublicly listed$488K($43M)$653M-
Resilience Cyber Risk SolutionUnited StatesNew York City, NYPrivate--$650M-
Root Inc.United StatesUnited StatesPublicly listed$1.5B$74M$787M0.4x
YuLifeUnited KingdomLondonPrivate$100M-$800M8.0x

Aditya Birla Health Insurance Public Comps

Aditya Birla Health Insurance is still privately-owned, but its public comps include Donegal Group, Eurohold Bulgaria, Tiptree, Root Inc., FBD Holdings, weSure, Crawford, NICO Holdings, Hapvida and Sagicor.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Donegal Group$978M$102M0.7x0.8x7.1x-
Eurohold Bulgaria$1.9B$219M1.3x-11.0x-
Tiptree$488K($43M)1338.5x-(15.1x)-
Root Inc.$1.5B$74M0.4x0.4x8.0x4.1x
FBD Holdings$533M$100M1.4x1.2x7.3x-
weSure$1.5B$179M0.7x-5.9x-
Crawford$1.3B$89M0.6x0.6x9.2x6.7x
NICO Holdings$868M$131M0.9x-6.2x-

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Common questions about Aditya Birla Health Insurance

When was Aditya Birla Health Insurance founded?Aditya Birla Health Insurance was founded in 2015.
Where is Aditya Birla Health Insurance headquartered?Aditya Birla Health Insurance is headquartered in Mumbai, India.
Is Aditya Birla Health Insurance publicly listed?No, Aditya Birla Health Insurance is a private, VC-backed company.
What is Aditya Birla Health Insurance's valuation?Aditya Birla Health Insurance was last valued at $712M in its secondary sale in August 2022.
How much funding has Aditya Birla Health Insurance raised?Aditya Birla Health Insurance has raised $3M across 1 funding round.
What was Aditya Birla Health Insurance's last funding round?Aditya Birla Health Insurance's last funding round was a $3M strategic investment round in December 2024, led by Aditya Birla Capital.
Who are Aditya Birla Health Insurance's investors?Aditya Birla Health Insurance's investors include Aditya Birla Capital and Abu Dhabi Investment Authority.
What is Aditya Birla Health Insurance's revenue?Aditya Birla Health Insurance's latest recorded revenue is $175M (August 2022).
What is Aditya Birla Health Insurance's revenue multiple?Aditya Birla Health Insurance's latest valuation implies a 4.1x revenue multiple ($712M valuation on $175M of revenue).
Which companies are comparable to Aditya Birla Health Insurance?Companies comparable to Aditya Birla Health Insurance include Donegal Group, Eurohold Bulgaria, Tiptree, Resilience Cyber Risk Solution, Root Inc. and YuLife.

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