Apollo DKV Insurance to invest Rs 5 bn in India

MUMBAI: Health insurer Apollo DKV Insurance Co Ltd plans to invest up to Rs 5 billion in the next five years to increase market share, Vice Chairperson of the Apollo Hospitals Group, Shobana Kamineni, told reporters on the sidelines of a health insurance summit on Friday. "To be a significant player we need at least 15 per cent of business in the health insurance sector in India," she said. She estimated the health insurance business in India at $1 billion now. The addressable market is the 250 million middle class Indians, she said. The company is a joint venture between Apollo Hospitals Group, which holds 74 per cent in the venture, and DKV Deutsche Krankenversicherung AG, which is a part of German re-insurer Munich Re. Apollo Hospitals Enterprise Ltd is the flagship of the Apollo Hospitals Group. The venture has so far invested 1 billion rupees in India. In the five months of its operations in India, Apollo DKV Insurance Co has generated 100 million rupees revenue in premiums collected

Source: ET