Apollo Munich Likely to Be Acquired by HDFC ERGO
Updated On May 07, 2019
Apollo Munich Health Insurance is likely to be acquired by HDFC ERGO. The general insurance subsidiary of Housing Development Finance Corp, HDFC ERGO is looking forward to acquiring Apollo Munich Health Insurance for an estimated value of Rs. 2,600 crore. After the acquisition, Munich Re will exit the company whereas Apollo will have a small stake with HDFC Ergo.
Currently, Apollo Munich Health Insurance Company Ltd is a joint venture between renowned Chennai-based Apollo Hospitals and a Germany-based reinsurance company Munich Re - a prominent standalone health insurance company in the country. Moreover, Apollo Munich is associated with leading partners in India like Citibank, Canara Bank, Axis Bank, and many others.