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About Us > Media > Press Releases > Canara Bank and Apollo Munich Health Insurance enter into a Bancassurance tie up

  • Ensures that the health of current and future Canara bank customers is (COVERED)
  • Brings health insurance closer to Canara Bank customers across India, makes good    healthcare accessible
  • Apollo Munich products to be sold to Canara Bank customers across all its branches

Bangalore, October 07, 2013:
Taking advantage of the recent IRDA regulations pertaining to health insurance, Canara Bank and Apollo Munich Health Insurance today announced that they are joining hands to provide health insurance to Canara Bank customers across the country.  Under the arrangement, Canara Bank will act as a Corporate Agent for selling Apollo Munich Health Insurance products.
On the occasion, Dr. Prathap C. Reddy, Chairman, The Apollo Hospitals Group and Apollo Munich Health Insurance, stated, “My dream is to make quality healthcare affordable to all Indians.  Health insurance globally has been shown to be the best way to fund healthcare. I am delighted that Apollo Munich is joining hands with a reputed institution like Canara Bank. With Canara Bank’s broad network of branches, I am sure that we will be able to ensure that Indians all across the country will have access to health insurance, and thereby, quality healthcare.”
Shri R.K. Dubey, Chairman and Managing Director of Canara Bank, said “Our tie up with Apollo Munich Health Insurance will ensure that Canara Bank’s 100 year legacy of trust that our customers have placed in us, will be strengthened. The health of our customers is of vital importance to us and we strongly believe that health insurance is an essential product to hold in one’s portfolio. With Apollo Munich, we feel very confident that we will be able to provide our customers with the right products that suit all their present & future healthcare needs.”
Ms. Shobana Kamineni, Director, Apollo Munich Health Insurance, said that “Apollo Munich is committed to work with Canara Bank to ensure excellent training, product support and smooth operational processes,  so that Canara Bank customer’s enjoy uncomplicated health insurance products and services.”
Mr. Antony Jacob, Chief Executive Officer, Apollo Munich Health Insurance, said, “We have created a suite of unique products for Canara Bank in partnership with them.  We are confident that our products today, and in the future, will be appreciated by the Bank’s customers.  We are eager to get started.”
Note to editors:
About Canara Bank
Canara Bank is one of the premier banks in the country, and personifies a strong presence spanning 108 years and exemplifies uninterrupted profits every year since inception. The top line, reading a whopping 676 Lac Crore of global business demonstrates robust fundamentals combining sensible business acumen. 
Sound founding principles, enlightened leadership, unique work culture and remarkable adaptability to changing banking environment have enabled the bank to be resilient, sturdy and always in the fore-front. It has also helped the Bank to win and nurture the confidence of over 5 Crore highly satisfied customers.
Canara Bank combines world class expertise with traditional Indian values to bring home to customers a friendly banking experience. Wide range of products and services are being offered through 4200 plus outlets. Numbers of product and services exceed 250 and these products and services meet every financial need of Bank’s client which makes the Bank a financial super market. 
Bank has harnessed the power of Technology through a host of alternate delivery channels and products  covering Internet and Mobile Banking, Tele-Banking, Anywhere Banking, Online Trading, Global Debit Card, International Credit Cards, Gift Cards, SMS Alerts, Missed Call Alerts, Call Centre facility etc to provide a cutting edge banking service to clients. All branches are under core banking solutions and Bank has over 3750 Automated Teller Machines. Bank has introduced e-Lounge facility where clients can avail of the above services without the manual intervention of branch personnel.
About Apollo Munich Health Insurance Company
Apollo Munich Health Insurance Co. Ltd. is a joint venture between Apollo Hospitals Group and Munich Health, Munich Re’s newest business segment.
The company offers comprehensive health insurance plans for individuals and their families as well as for corporate houses. The company also offers individual personal accident plans and travel insurance for individuals, families and senior citizens. Apollo Munich is a specialized health insurance company in India that has expertise in both health and insurance and is able to leverage this understanding for the benefit of its customers.
 With over 8,250 beds across 50 hospitals in India and overseas, neighbourhood diagnostic clinics, an extensive chain of Apollo Pharmacies, medical BPO as well as health insurance services and clinical research divisions working on the cutting edge of medical science, The Apollo Hospitals Group is Asia’s largest integrated healthcare provider.
Munich Health draws on Munich Re’s insurance and reinsurance competence with over 5,000 experts at 26 locations worldwide. The Company devise innovative healthcare solutions for clients and partners all over the world.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2012, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of over €3211 Mio on premium income of around €51.9 Bio. It operates in all lines of insurance, with around 53,000 employees throughout the world.