Antony Jacob throws light on Apollo Munich's Growth Over Next 3 Years
STANDALONE health insurer Apollo Munich Health promoted by Apollo Hospitals expects to turn profitable in the next three years.
"We hope to break even by 2012-13 and start making profit from 2013-14," Apollo Munich Health Insurance chief executive officer Antony Jacob said.
The company is already making profit so far as retail business is concerned, however, there are under-writing losses in terms of group insurance, Antony Jacob said.
Apollo Munich 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.
As far as capital infusion is concerned, Jacob said, by 2013-14 the company's total paid-up capital would go up to Rs 500 crore from the present level of Rs 225 crore.
Capital infusion will go in for expansion of the business, he added.
Antony Jacob said, the company would invest about Rs 20 crore during the last quarter of 2009-10.
About the rechristening of the firm, he said, the new name is in line with the company's brand strategy to communicate its deep-rooted expertise.
They are: Easy Health standard; Easy Health Exclusive; Easy Health Premium.
On December 29, 2009, the insurance company, has renamed itself Apollo Munich Health
Insurance from Apollo DKV Health Insurance.
Apollo Munich Health Insurance has three options in healthcare insurance products.