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Wednesday, Oct 11, 2006

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Money & Banking - General Insurance
Corporate - Diversification
Apollo Hospitals may tie up with German insurer

Our Bureau

Chennai , Oct. 10

A notification to the Bombay Stock Exchange by Apollo Hospitals Enterprise Ltd indicates that the corporate hospitals major is contemplating entry into health insurance.

The notification says that the company's board had authorised the Apollo's Chairman, Dr Pratap C. Reddy, to sign a joint venture agreement with Deutsche Krankenversicherung AG, a leading health insurance company in Germany and a part of the Munich Re group.

The agreement is to be signed on Wednesday, the notification says.

None of the company officials were available for comment.

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