SKS CEO and Founder, Vikram Akula, recognized by Time Magazine as one of today's 100 most influential people 

February 2007
SKS Microfinance Launches Health Insurance in Karnataka

Karnataka - February 2007:

SKS Microfinance, in partnership with ICICI Lombard, launched its health insurance pilot program in Gulbarga, Karnataka. The pilot program, one of the first of its kind in India, will run for one year from February 2007 to September 2007. The program provides health insurance to 25,000 existing microfinance members and their families, or 100,000 individuals.

�With many of the country�s poor being pushed below the poverty line due to the high cost of health care, it is important that SKS provide a mechanism for better health coverage for the poor.� said Ruchi Singh, Project Manager, Health Insurance.

Health insurance is widely recognized to play an important role in poverty alleviation. Vulnerability to illness plays a significant role in abject poverty, as studies have demonstrated that many poor sell assets or take loans to pay for treatment. Many poor also delay treatment, which increases the cost borne by individuals or, in worst-case scenarios, leads to death.

SKS is partnering with ICICI Lombard, one of the largest insurance companies in India, to provide members with cost-effective and quality health care. Members receive up to Rs. 20,000 of medical care for inpatient services, maternity care and personal accident coverage.

SKS aims to roll out health insurance throughout India.

About ICICI Lombard

ICICI Lombard General Insurance Company Limited is a 74:26 joint venture between ICICI Bank Limited and the Canada based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a diversified financial corporate engaged in general insurance, reinsurance, insurance claims management and investment management.

Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance Company received regulatory approvals to commence general insurance business in August 2001.

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For further information, please contact: [email protected]



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