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BANGALORE, IndiaSwiss Reinsurance Co., the Zurich-based reinsurer, has signed an agreement with conglomerate TTK Group and private equity firm India Value Funds Advisors to buy a 26% stake in TTK Healthcare Services Pvt Ltd., one of India's leading health insurance third party administrators.
Bangalore-based TTKHCS provides Indian health insurance companies with a range of medical claims handling services. It currently employs about 400 people based in 22 locations in India.
Swiss Re says that it also intends to create a health care services advisory company that will focus on product development and corporate health schemes.
Girish Rao, Managing Director of TTKHCS and one of its co-founders, who will continue to oversee the operations, said, "this marks the beginning of a new era for TTKHCS. Swiss Re and TTKHCS will work together to contribute to the growth and development of a sustainable health insurance industry in India."