Apollo Hospitals sees insurance JV premiums rise

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Apollo Hospitals sees insurance JV premiums rise

Reuters / Mumbai 11 Jan 12 | 01:41 PM

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Healthcare operator Apollo Hospitals Enterprise expects its health insurance joint venture with Germany's Munich Re to collect premiums of Rs 450 crore in the fiscal year ending March against Rs 280 crore last year, a top official said on Wednesday.

The joint venture has clocked incremental business of Rs 100 crore in the first 8 months of the current financial year, Antony Jacob, chief executive, Apollo Munich Health Insurance Co, told reporters.

Apollo holds 74% in Apollo Munich Health Insurance Co, while Munich Re owns the rest.