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Indian Economy - Understanding the basics of Indian economic system

02-Jan-20

HDFC Ltd to acquire stake in Apollo Munich Health Insurance

Housing Development Finance Corporation Ltd (HDFC) has received approval from Insurance Regulatory and Development Authority of India to acquire 51.2% stake in Apollo Munich Health Insurance at Rs.1,347 crore.
Earlier HDFC ltd and HDFC ERGO get approvel from CCI and RBI.
After the completion of the proposed acquisition, Apollo Munich will be merged with and into HDFC Ergo.
Apollo Munich Health Insurance is a joint venture between Apollo Hospitals and German reinsurer Munich Re Group formed in 2007.
Headquarter - Mumbai
Chairperson - Shobana Kamineni
Housing Development Finance Corporation Limited (HDFC) is an Indian financial services company formed in 1977 and Headquartered in Mumbai, India.
Chairman of HDFC Ltd - Deepak Parekh
HDFC ERGO is a joint venture firm between HDFC and ERGO International AG Established in 2002.
Headquarter - Mumbai
Chairman - Deepak Parekh
MD & CEO - Ritesh Kumar

By: Rohit Middha

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