Standalone health insurer Apollo Munich Health today said it plans to invest Rs 275 crore in the next 5 years to grow its business.
"By 2013-14 the total paid-up capital would go up to Rs 500 crore from the current-level of Rs 225 crore," Apollo Munich Health Insurance Chief Executive Officer Antony Jacob told PTI.
The capital infusion would go in for expansion of the business, he said.
Apollo Munich, earlier known as Apollo DKV is a 74:26 joint venture between the Apollo Hospitals Group, and Germany-based Munich Re's newest business segment, Munich Health, which came into being following the reorganisation of business. DKV is also part of Munich Re of Germany.
Jacob said, the company would make capital infusion of about Rs 20 crore during the last quarter of 2009-10.
Talking about rechristening, he said, the new name is in line with our brand strategy to communicate the deep-rooted expertise of the company. Apollo is a household name synonymous with the best quality health care and our partner company Munich Health is a true pioneer in the field of global health risk management.
"We felt it was necessary to have the brand reflect the strong foundation and build greater familiarity with consumers as we grow our business," he said.
