Apollo Munich Health Insurance with Axis Bank will offer customized insuran...
The deal will be formalised after the approval from the government which might happen by June-end of first quarter of 2016, said the company.
After the deal, Apollo Hospitals’ shareholding in Apollo Munich will be reduced from 74.4% to 51.1%. Correspondingly, Munich Re’s shareholding in Apollo Munich shall move to 48.7% and 0.2% will be held by employees. Apollo Hospitals shall continue to hold its stake in Apollo Munich.
Dr. Prathap C Reddy, Chairman, Apollo Munich Health Insurance Company Ltd. and Chairman, Apollo Hospitals Enterprise Ltd., welcomed the development and said, “Insurance is a key element for making quality healthcare facilities accessible to the masses. The show of confidence from our JV partner will go a long way in helping the Group achieve its vision of ‘Healthcare for all’.