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CLAIMS SETTLED Rupees 2,913 Crores Claims Settled from Inception till June 2017.
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Tell us about the transaction?

  • This is a unique transaction where a leading standalone health insurer will merge with a leading general insurer creating one of the largest private general insurer
  • The transaction is envisaged in two stages –
    • Stage 1: Acquistion of ~51% stake in Apollo Munich Health Insurance Company Ltd (Apollo Munich) by HDFC Limited
    • Stage 2: Merger of Apollo Munich with HDFC ERGO General Insurance Company Limited (HDFC ERGO General)
  • Stage 1 of the transaction has been completed and the name of the company has been changed to HDFC ERGO Health Insurance Limited (HDFC ERGO Health)
  • We will shortly be applying to the National Company Law Tribunal for approval of scheme of amalgamation (merger).  We expect the merger to conclude by the first half of next financial year
  • Between stage 1 and stage 2, both entities (HDFC ERGO Health and HDFC ERGO General) would continue to operate independently


Why is HDFC Ltd acquiring Apollo Munich? What was the rationale behind the transaction?

The Health Insurance business is expected to have robust growth over the long term, and is estimated to become the largest product segment in non-life insurance industry over the next 5 years. Apollo Munich with its Health Insurance expertise and capabilities has built a strong agency network supported by some of the best products in the market, superior technology and well-evolved claim servicing capabilities.

For HDFC ERGO General, the strategic rationale for the transaction is to further penetrate the Indian health insurance market by increasing the customer base, distribution capabilities, health insurance expertise and capabilities to support its next level of growth in the General insurance industry.

HDFC ERGO General will get access to the wider agency network of more than 85,000 agents of Apollo Munich to distribute the combined product suite of HDFC ERGO General and Apollo Munich, post-merger and once the licensing requirements are fulfilled. This would help it further strengthen its market position.

With this acquisition, the Gross Direct Premium would stand at INR 10,807 crores for FY19 & the market share of HDFC ERGO General would increase from 5.1% to 6.4%. The market ranking in the private sector for Accident and health portfolio would improve from its current position of 5th to 2nd, post-merger.

Whether all requisite approvals have been taken for this transaction?

Yes, the approval for stage 1 i.e. acquisition, has been received from the Competition Commission of India (CCI), the Reserve Bank of India and the Insurance Regulatory Authority of India (IRDAI). 
The stage 2 i.e. merger, approval is being sought from NCLT and IRDAI

Tell me about HDFC Group.

HDFC Group is amongst the most respected and trusted brands in the world. HDFC Group is present across the entire spectrum of financial services – housing loans, banking, asset management, life insurance, general insurance, education loans, to name a few. HDFC Group of companies consistently maintain leadership positions in their respective sectors and the Group is the largest in India in terms of market capitalisation with its listed entities valued at about INR 12,50,000 crore.
HDFC Ltd., the holding company of the Group, is India’s leading mortgage lender. HDFC Ltd has assisted over 70 lakh customers in acquiring their own home over the last 4 decades. With a wide network of 546 offices, it caters to several towns and cities across India. HDFC Ltd has offices in London, Dubai and Singapore and service associates in the Middle East to assist non-resident Indians.

Tell me about Munich Re Group and ERGO

The Munich Re group is amongst the largest providers of re-insurance, primary insurance, and insurance-related risk solutions in the world, headquartered out of Germany. The re-insurance & insurance business in the group is done under the following brand umbrellas –
  • Munich Re                                     :  For re-insurance operations
  • ERGO & Munich Health Holding:  For primary insurance operations including health
ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in around 30 countries worldwide, focusing mainly on Europe and Asia. ERGO offers a comprehensive range of insurance, pensions, investments and services. In its home market in Germany, ERGO ranks amongst the leading providers across all segments. In 2018, ERGO received a total premium of €19bn (~INR 1,50,000 Crores).
Overall the Munich re group received a total premium of about €49bn (~INR 4,00,000 Crores) and had a profit after tax of €2.3bn (~INR 18,000 Crores).

Tell me about HDFC ERGO General Insurance

HDFC ERGO General Insurance Company is a 51:49 joint venture between HDFC Ltd and ERGO, which is the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO General, the 3rd largest Private General Insurer with a 5.1% market share, offers products like Motor, Health, Travel, Home, Personal Accident and Cyber Insurance in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space through its network of 120 branches spread across 106 cities and a wide distribution network.  In FY19, the Company wrote a GWP of INR 8,722 Crore and made a profit after tax of INR 383 Crore.

How will the transaction benefit me as customer?

The transaction marks the onset of an exciting journey for you, as you shall benefit from being part of the larger HDFC family – one of the strongest and most trusted brands in the financial services industry in India, synonymous with the highest level of corporate governance and known for its fairness and transparency towards customers and other stake holders. Further, the transaction significantly benefits you:

  • Enhanced geographical reach of 300+ branch offices and 200+ digital offices resulting in a wider distribution footprint across the country. In addition, the merged entity will offer a well-established digital distribution ecosystem, thereby enhancing your buying experience.
  • Over the past months, we have already taken steps to enhance our cashless network to 10,000 hospitals from ~4,500 hospitals at the beginning of the financial year – thereby providing one of the largest service networks in the country for you. 
  • Post-merger, you will have access to the larger combined product suite (across health and non-health segments) offered by both entities – HDFC ERGO Health and HDFC ERGO General.

Thus, you shall benefit from being part of a larger insurance ecosystem and enjoy enhanced customer experience, supported by innovative processes and new-age technology.
At the same time:

  • There will be no changes in policy terms and conditions for you. You will continue to enjoy the benefits of the policy as detailed in your existing policy document.
  • On renewal, all continuity benefits shall be available as per existing policy terms and conditions.
  • Existing claim processes remain unchanged, and you will now be able to enjoy the expanded network of cashless hospitals.


Would there be any change in the terms and conditions of my policy?

There will be no change in the existing policy terms & conditions and you will continue enjoying the benefits of the policy as detailed in your Policy document.

Will the continuity benefits on my existing policy (Cumulative Bonus, Pre-Existing Diseases cover, etc.) be impacted as a result of this transaction?

As the product and policy terms and conditions do not change, all continuity benefits shall be available as per existing policy terms and conditions.

With the name of the Company changing, does the existing policy document under Apollo Munich name remain valid or will I receive a new policy document?

  • All active policies which are issued under Apollo Munich name shall remain valid till expiry and will not require any amendments. At the time of renewal, a fresh contract with the new company name shall be issued.

Will my existing Health card remain valid, or will a new card be issued?

The existing Health card issued to you remains valid till the expiry of your policy.

I have recently made a payment to Apollo Munich for the purchase of an insurance policy and am awaiting the issuance of my policy. Will I be required to provide any fresh documentation?

No. In case you have made a payment to Apollo Munich for the purchase of an insurance policy and are awaiting issuance of your policy, no further action is required from your end on account of this transaction – your documents already submitted shall remain valid.

Will I as an existing customer of Apollo Munich be able to access the hospital networks of HDFC ERGO General as well as Apollo Munich?

The company has already made efforts in the past months to bring its network of hospitals at par with HDFC ERGO General’s network of hospitals.  As a result, Apollo Munich now has a network of over 10,000+ hospitals.  The updated list of network hospitals is available on the website or

Where can I register or intimate the claim?

There is no change in existing claim processes. You can register the claim by visiting our website / or write to us at / or call our toll-free number 1800-102-0333.

I have already lodged a claim. Will my claim be impacted as a result of this transaction?

There is no change in the existing claims process followed by Apollo Munich, as a result of this transaction. Thus your claim shall be processed according to the existing terms and conditions of your policy and there will be no impact on the claim settlement as a result of this transaction.

Who should I approach for any policy queries?

There is no change in existing touch points. For any policy servicing query, you can reach us on the customer service section of our website You may also write to us at or call us on our toll-free number 1800-102-0333 or approach your insurance distributor, as the case may be.  As always, we would keep you updated about any further developments or changes in this regard.

How should I renew my policy?

Renewal of Apollo Munich’s insurance policy will follow the existing process. You can visit our website / or call our toll-free number 1800-102-0333 or write to us at / You may also visit any of our branches

Will I be able to renew my Apollo Munich policy or will I have to buy a new policy from the new entity?

As there is no change in the entity other than the ownership, all renewal related processes remain the same. You will be able to renew your existing policy as per current policy terms. The policy document that would be issued shall be with the new name.

Can I pay premium online through HDFC ERGO General website?

Pre-merger: You need to visit the existing website, i.e. or, for payment of premium online for Apollo Munich’s products.  
Post-merger: The website of the merged entity would service all your requirements

For renewing my policy, in whose favour should the cheque be issued?

You may issue the cheque in favour of the company name as mentioned in the renewal notice. In case you have not received a renewal notice, kindly issue the cheque in favour of HDFC ERGO Health Insurance Limited.

Will I be able to make any changes in my policy issued by Apollo Munich?

The existing process of changes in the policy shall continue as is. For any change in the policy you may visit customer service section on our website  You can also write to us at / or call us on our toll-free number 1800-102-0333 or approach your insurance distributor, as the case may be.

Do I have to pay any additional charge on account of this transaction?

There will be no additional charge on account of this transaction.

Do I again have to undergo any additional medical test?

No additional medical tests will be required due to this transaction.

Would the name of the policy be the same?

There will be no change in the Policy product name or any of the policy terms & conditions. All benefits of the policy as detailed in the Policy document shall remain same.

What about the agent/intermediary servicing my policy? Will that change?

There will be no change in the agent/ intermediary servicing your policy during the policy period.

Will the existing branch of Apollo Munich in my city be closed or continued as is?

The Company does not intend to close any branch of either of the two entities.
We will keep you informed in case there are any plans to relocate or merge your branch.