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HDFC To Buy Apollo Munich Health Insurance

Post the deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company

Photo Credit : Reuters

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Housing Development Finance Corp on Wednesday said it will buy a 51.2% stake in Apollo Hospital Group's insurance arm, Apollo Munich Health Insurance Company for 13.47 billion rupees.($193.40 million).

Post the deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company, the Mumbai-based company said in a statement.

Apollo Munich is India’s second-largest health insurance provider. It is a 51:49 joint venture between Chennai-based Apollo Hospitals and German reinsurance company Munich Re.

(Reuters)


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