.

i HDFC
Ref. No. SE/ 2019-20/285 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
www.hdfc.com
January 9, 2020
BSE Limited National Stock Exchange oflndia Limited
P. J. Towers Exchange Plaza, Plot No. C/1
Dalal Street r Bandra-Kurla Complex, Bandra (East)
Mumbai 400 00 I. Mumbai 400 051.
Kind Attn: Sr. General Mamtger Kind Attn: Head - Listing
DCS - Listing Department
" Dear Sirs,

Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing
Obligations and Disclosuret'Requirements) Regulations, 2015 -completion of acquisition of
equity stake of Apollo Munich Health Insurance Company Limited
In furtherance to our communication dated June 19, 2019 and January 2, 2020, informing you about
entering into agreemen(s for acquiring up to 51.2% of the equity share capital of Apollo Munich Health
Insurance Company Limited (Apollo Munich), grant of no objection by the Corporation to the proposed
merger of Apollo Munich with HDFC ERGO General Insurance Company Limited (a subsidiary of the
Corporation) and receipt of approvals from Reserve Bank of India (RBI), Insurance Regulatory and
Development Authority of India (IRDAI), Competition Commission of India (CCI) towards the said
acquisition.

In this connection, we.>wish to inform you that on an application made by Apollo Munich for change of
name, the Registrar of Companies, Mumbai, has on January 8, 2020, approved the change of name of
Apollo Munich Health Insurance Company Limited to ' HDFC ERGO Health Insurance Limited'.

We further wish to inform you that pursuant to the receipt of approvals from RBI, IRDAI and CCI, the
Corporation has today i.e. on January 9, 2020, completed acquisition of 51.16% of the equity share
capital of HDFC ERGO Health Insurance Limited (formerly Apollo Munich Health Insurance Company
Limited) (HDFC ERGO Health) and accordingly it has become a subsidiary of the Corporation.
Disclosure made by HDFC ERGO Health to stock exchange and a press release being issued in the above
connection is enclosed.

As informed earlier, HDFC ERGO Health and HDFC ERGO General Insurance Company Limited
(HDFC ERGO) would now take necessary steps of merger ofHDFC ERGO Health with and into HDFC
ERGO, subject to the approval of the National Company Law Tribunal, Mumbai.

You are requested to take note of the above and arrange to bring this to the notice of all concerned.

Thank you,

Yours faithfully,
Fo Housing Development Finance Corporation Ltd.

Encl. a/a

cc: London Stock Exchange

I 0, Paternoster Square London EC4M 7LS
Corporate Office: HDFC House, H T Parekh Marg, 165-166, Backbay Reclamation, Churchgate, Mumbai 400 020.
Tel.: 66316000, 22820282. Fax: 022-22046834, 22046758.
Regd. Office: Ramon House, H T Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai 400 020. INDIA.
Corporate Identity Number: L 701 OOMH1977PLC019916
 ~ ·- ApolloMunich J
l , H EALTH INSURANCE

January 9, 2020

Ref No: AMHI/BSF/Debtf2019-20/21

The Manager
Listing Department
Wholesale Debt Market
BSE Limited
Phiroze Jeejeebhoy Tower,
Dalal Street, Mumbai - 400 001

Ref: Scrip Code of Debt: BSE: 956906, ISIN:INE092V08010 Security ID: 840AMHICL27
Scrip Code of Debt: BSE: 958265, ISIN:INE092V08028 Security ID: 1025AMH128

Dear Sir/Madam,

Sub: Intimation under Regulation 51 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015

This is further to our letter dated January 2, 2020, we wish to inform you that in
accordance with the Share Purchase Agreement dated June 19, 2019, at the Board
Meeting held today, the Board of Directors of the Company has noted the transfer of
51.16% shareholding in favour of HDFC Limited, upon payment of purchase
consideration by HDFC Limited to Selling shareholders of the Company. Accordingly,
the Company has now become a subsidiary of HDFC Limited.

We further wish to inform you that the Company at its Board meeting held today,
appointed the following directors nominated by HDFC Limited on its Board viz.

i. Mr. Ritesh Kumar as Non-Executive Chairman

ii. Mr. Anuj Tyagi as the Managing Director & CEO

and noted the resignation of the following existing directors of the Company:

i. Ms. Shobana Kamineni, Ms. Suneeta Reddy and Mr. Karthik Reddy,
Representative Directors of Apollo Hospitals Group;
ii. Mr. Andrew Kielty, Representative Director of Munich Health Holding AG; and
iii. Mr. Antony Jacob, Managing Director

We further wish to inform you that the pursuant to the receipt of approval from the
Registrar of Companies, Mumbai, the name of the Company has been changed to
"HDFC ERGO Health Insurance Limited" with effect from January 8, 2020.

Apollo Munich HeaHh lnsu111nce Co. Ltd.

Central Processing Center, 2"' & 3'' Floor, iLABS Centre, Plot No. 404-405, Udyog Vihar, Phase-Ill, Gurugram - 122 o·
Haryana Corp. Office: 1" Floor, SCF -19, Sector- 14, Gurugram - 122 001, Haryana. Regd. Office: 101, First Floor, lnizio, Cardil
Gracious Road, Chakala, Opposite P & G Plaza, Andheri (East), Mumbai, Maharashtra 400069 • Tel: +91 124 45843
• Fax: +91124 4584111 e Website: www.apollomunichinsurance.com • Email: [email protected]
•IRDAIReg.No.: -131• CIN: U66030MH2006PLC331263
 ,
" ·- ApolloMunich
HEALTH I NS U RANCE
J

You are requested to take note of the above and arrange to bring this to the notice of all
concerned.

Thanking you,

Copy to:
Mr. Ajay Agarwal - For your information and
Company Secretary necessary disclosures to
Housing Development Finance Corporation Limited stock exchanges
HDFC House, H T Parekh Marg,
165-166, Backbay Reclamation,
Churchgate, Mumbai - 400 020

Apollo Municll HeaHh lnsuranre Co. Ltd.

Central Processing Center, 2"' & 3'' Floor, iLABS Centre, Plot No. 404-405, Udyog Vihar, Pt1ase-lll, Gurugram - 122 o·
Haryana Corp. Office: 1" Floor, SCF -19, Sector - 14, Gurugram - 122 001, Haryana. Regd. Office: 101, First Floor, lnizio, Cardil
Best in Class in the lnsurafl(l! Sector Gracious Road, Chakala, Opposite P & G Plaza, Andhcri (East), Mumbai, Maharashtra 400069 • Tel: +91 124 45843
• Fax: +91124 4584111 • Webslte:www.apollomunlcllinsurance.com • Email: customerservice@apollomunichinsurance a
•IRDAI Reg.No.: - 131• CIN: U66030MH2006PLC331263
  

PRESS RELEASE 
 
HDFC Limited acquires Apollo Hospitals Group's shares in Apollo Munich Health 
Insurance 
 
Mumbai,  January  9,  2020:  HDFC  Limited  (HDFC),  has  completed  the  acquisition  of  50.80%  share  of 
Apollo  Hospitals  Group,  in  Apollo  Munich  Health  Insurance  Company  Ltd.  (Apollo  Munich)  for  INR 
1,485.14  crore  and  0.36%  shareholding  held  by  employees  for  INR  10.67  crore.  The  acquisition  was 
approved  by  the  Competition  Commission  of  India  (CCI),  the  Reserve  Bank  of  India  and  the  Insurance 
Regulatory  and  Development  Authority  of  India  (IRDAI).  Subsequent  to  this  approval,  Apollo  Munich 
Health Insurance Company Limited  has been renamed as HDFC  ERGO  Health Insurance Limited  (HDFC 
ERGO Health) and will operate as a subsidiary of HDFC Limited.   
 
Mr. Anuj Tyagi, Executive Director & Chief Business Officer at HDFC ERGO General Insurance Company 
Limited (HDFC ERGO General) has been appointed as the new Managing Director & CEO of HDFC ERGO 
Health, subject to approval from the IRDAI.   
 
Speaking  on  this  occasion,  Mr.  Deepak  Parekh,  Chairman  of  HDFC,  said,  “We  welcome  the 
policyholders, channel partners and employees of Apollo Munich to the HDFC Family. This presents us 
the  opportunity  to  continue  our  growth  journey  in  the  insurance  space.  We  are  committed  to  create 
value  for  all  our  stakeholders  with  the  combined  strength  of  the  Brand  HDFC  and  expertise  of  Apollo 
Munich in health insurance.” 
 
Ms. Shobana Kamineni, Chairperson, Apollo Munich and Vice Chairperson, Apollo Hospitals Enterprise 
Limited said, “With the expertise of Apollo Group and our partners Munich Re, we have created one of 
the finest health insurance companies in India, focused on providing innovative and world class products 
&  services,  to  our  customers.  I  am  happy  to  pass  on  the  baton  to  HDFC,  under  whose  umbrella,  I  am 
confident  that  the  company  will  become  stronger.  I  take  this  opportunity  to  thank  the  outstanding 
professionals of Apollo Munich who, under the leadership of Antony Jacob (Managing Director, who is 
moving to Apollo Hospitals Group), Krishnan Ramachandran (CEO) and Srikanth Kandikonda (CFO), have 
created a truly remarkable organization” 
 
Commenting on behalf of Munich Re Group, Dr. Markus Rieß, Chairman, ERGO Group AG and Member 
of the Board of Munich Re, said, “The acquisition provides HDFC ERGO with the opportunity to grow by 
increasing its footprint and  distribution network, in  line with its  strategic objective  to be  amongst the 
top  private  insurers  in  the  industry.  Policy  holders  and  channel  partners  will  benefit  from  enhanced 
product suites, touch points and technology innovations.”   
 
Mr. Anuj Tyagi, MD & CEO, HDFC ERGO Health Insurance, said “This is a momentous milestone for us. 
We would like to assure the policyholders and channel partners of Apollo Munich of continuity, highest 
standards  of  customer  service  experience  and  access  to  a  wider  range  of  products  and  a  network  of 
10,000+ cashless hospitals.” 
 
HDFC  ERGO  Health  and  HDFC  ERGO  General  will  shortly  be  applying  to  the  National  Company  Law 
Tribunal  (NCLT)  seeking  approval  for  the  merger  of  HDFC  ERGO  Health  with  HDFC  ERGO  General. 
Post‐merger, the resultant entity will be the 2nd largest private insurer in Accident & Health segment in 
the country.   
  

 
About HDFC Limited 
HDFC  Ltd.  is  India’s  leading  mortgage  lender  and  a  well  ‐  established  financial  conglomerate.  It  has 
assisted over 73 lakh customers in acquiring their own home over the last 42 years. With a wide network 
of 567 offices across India. HDFC Ltd. has offices in London, Dubai and Singapore and service associates 
in the Middle East to assist non‐resident Indians. 
 
About Apollo Hospitals   
It was in 1983 that Dr. Prathap Reddy made a pioneering endeavor by launching India’s first corporate 
hospital ‐ Apollo Hospitals in Chennai. As Asia’s largest and most trusted healthcare group, its presence 
includes over 10,000 beds across 71 Hospitals, 3,500 Pharmacies, over 90 Primary Care and Diagnostic 
Clinics,  110  plus  Telemedicine  Centres  and  186  plus  Apollo  Munich  Insurance  branches  spanning  the 
length and breadth of the Country. We cared for over 50 million Indians last year in our network. In a 
rare  honor,  the  Government  of  India  issued  a  commemorative  stamp  in  recognition  of  Apollo's 
contribution,  the  first  for  a  healthcare  organization.  Apollo  Hospitals  Chairman,  Dr.  Prathap  C  Reddy, 
was  conferred  with  the  prestigious  Padma  Vibhushan  in  2010.  For  more  than  35  years,  the  Apollo 
Hospitals Group has continuously excelled and maintained leadership in medical innovation, world‐class 
clinical services, and cutting‐edge technology. 
 
About Apollo Munich Health Insurance Company 
Apollo  Munich  offers  innovative  and  award‐winning  health,  personal  accident  and  travel  insurance 
plans,  distributed  through  over  194  Apollo  Munich  offices  across  the  country  and  several  leading 
distribution  partnerships.  The  company  has  state‐of‐the  art  technology  and  infrastructure  offering 
uncomplicated services, delivered by over 4,500 engaged employees. In FY19, the company closed at a 
GWP of INR 2,194 crore, with an overall market share of 4.4% and 9% among private sector players, in 
health  insurance.  It  is  a  joint  venture  between  the  Apollo  Hospitals  Group,  one  of  Asia’s  largest 
healthcare group, and Munich Health, Munich Re’s health business segment, which offers global health 
insurance and reinsurance excellence. 
 
About HDFC ERGO 
HDFC ERGO General Insurance Company Ltd. is a 51:49 joint venture between the Housing Development 
Finance Corporation Ltd (HDFC); India’s premier Housing Finance Institution and ERGO International AG; 
the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO, the third largest General 
Insurance  provider  in  the  private  sector,  offers  the  complete  range  of  general  insurance  products 
including  Motor,  Health,  Home,  Agriculture,  Travel,  Credit,  Cyber  and  Personal  Accident  in  the  retail 
space  and  Property,  Marine,  Engineering,  Marine  Cargo,  Group  Health  and  Liability  Insurance  in  the 
corporate space. 
 
With  a  network  of  126  branches  spread  across  112  cities,  over  3,500  employees,  a  wide  distribution 
network  and  a  24x7  support  team,  the  Company  has  been  offering  seamless  customer  service  and 
innovative products to its customers. 
 
For more information on HDFC ERGO and the products and services offered by the Company, please log 
on towww.hdfcergo.com.