The country’s largest mortgage lender Housing Development Finance Corp. (HDFCNSE 0.25 %) is in advanced talks to acquire Apollo Munich Health Insurance Co. for an approximate valuation of Rs 1,000 crore, said two people aware of the development.
“HDFC is close to acquiring Munich Re’s health insurance venture in India with Apollo,” said one of the people cited above. “Since Ergo has a partnership with HDFC in the general insurance space, it was easier for the two to strike the deal.” HD ..