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Germany's Munich Re raises stake in Apollo Munich Health Insurance to 49%

The deal increases Munich Re's holding in Apollo Munich to nearly 48.75 per cent, with 51.1 per cent held by Apollo Hospitals, and the rest by employees. The move is aimed at increasing the German firm's business in India, which it said is "one of it key markets."

 
 
The company's net profit (based on IGAAP standards) was at Rs 120 crore in the same period last fiscal.
After the deal, Ergo's stake in HDFC Ergo will go up to about 49 per cent - the maximum foreign holding allowed in Indian insurance companies under new rules.
 
 
The Insurance Regulatory and Development Authority of India (Irdai) today said the existing micro insurance products will continue to be on offer till March 31, 2016.
To begin with, the regulator is working with non-life insurers to launch such products which will be followed by life insurers.
Canada's Sun Life Assurance Company Limited will raise its stake in the joint venture from 26 per cent to 49 per cent.
Life Insurance Corporation may to buy 10 per cent stake in Central Depository Services from BSE in a deal that may value the leading depository at about Rs 825 crore.
Young people think life insurance is something you need to think about when you get old. But that is a big myth

The insurance industry is getting digitally savvy giving policyholders the comfort of buying and managing their policy and that too at lower costs.
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