Housing Development Finance Corp’s general insurance arm HDFC Ergo is in advanced talks to acquire Apollo Munich Health Insurance for an approximate valuation of Rs 2,600 crore, said two people aware of the development.
Apollo Munich — a 51:49 joint venture between Chennai-based Apollo Hospitals, promoted by Prathap C Reddy and his family, and German reinsurance company Munich Re — is the second-largest standalone health insurance provider in the country.