HDFC to buy Apollo Munich Health Insurance

HDFC has said it will buy a 51.2% stake in Apollo Hospital Group’s insurance arm, Apollo Munich Health Insurance Company for Rs 1,347 crore. German reinsurance company Munich Re, which formed the joint venture with Chennai-based Apollo Hospitals, will pay Rs 294 crore to Apollo Hospitals Enterprise Ltd and Apollo Energy Ltd as termination fee.

HDFC to buy Apollo Munich Health Insurance
HDFC has said it will buy a 51.2% stake in Apollo Hospital Group’s insurance arm, Apollo Munich Health Insurance Company for Rs 1,347 crore. German reinsurance company Munich Re, which formed the joint venture with Chennai-based Apollo Hospitals, will pay Rs 294 crore to Apollo Hospitals Enterprise Ltd and Apollo Energy Ltd as termination fee.