# ManipalCigna Health Insurance

ManipalCigna Health Insurance is an Insurance based in Mumbai, India.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** 401/402, 4th Floor, Raheja Titanium, Western Express Highway, Goregaon(East), Mumbai, Maharashtra - 400063
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** manipalcigna.com
- **LinkedIn:** https://www.linkedin.com/company/manipalcigna-health-insurance

## Regulatory record

- **Reports private funds:** No

## About

ManipalCigna Health Insurance offers comprehensive coverage, cashless hospitalization, OPD, and wellness benefits to protect you and your family’s future.

## Sectors

- Healthcare Services

## Offices

- Delhi
- Bangalore
- Kolkata
- Pune

## People

- Joydeep Saha — Managing Director & CEO
- Luis Miranda — Chairman of the Board and Independent Director
- Ranjan Ramdas Pai — Founder and Chairman of Manipal Education and Medical Group (MEMG)

## Questions

### Who holds decision-making power at ManipalCigna?

The board is chaired by Luis Miranda, an independent director. Day-to-day management and strategic direction rest with Managing Director and CEO Joydeep Saha. Majority ownership is held by Ranjan Pai's Manipal Education and Medical Group, with Cigna Corporation retaining a 49% foreign joint-venture stake, per publicly available corporate filings.

### How is ManipalCigna structurally linked to Manipal Hospitals?

Both the insurer and the hospital network ultimately fall under the control of Ranjan Pai, though they operate as legally separate entities. In practice, ManipalCigna's policyholders access a preferred-provider network anchored by Manipal Hospitals' 30-plus facilities, which gives the insurer direct care-delivery visibility that independent health insurers lack.

### What is the company's regulatory status in India?

ManipalCigna operates as a registered standalone health insurer licensed and regulated by the Insurance Regulatory and Development Authority of India (IRDAI). As a pure health insurer, it is not permitted to underwrite other general insurance lines such as motor or property, a structural constraint that also focuses its entire operating model on health risk selection and management.

### Does ManipalCigna commit capital outside India?

No. Under IRDAI regulations, the insurer's investable assets must be held predominantly in Indian-domiciled government securities, approved corporate bonds, and domestic money-market instruments. Public disclosures do not indicate any offshore investment mandate.

### How does the firm distribute its health insurance products?

ManipalCigna runs a multi-channel distribution strategy including individual agents, corporate agents, bancassurance partners such as Karnataka Bank, and a direct-to-consumer digital platform. Employer-group policies form a separate commercial channel. No single distribution arrangement is publicly flagged as dominant.

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Last updated: 2026-06-03T20:00:00.000Z

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