Apollo Munich Health Insurance Company, (Apollo Munich) is the new name for Apollo DKV Insurance Co. Ltd. T

he company was exercising its rebranding process after receiving the required shareholder and regulatory approvals to change its name.

Headquartered in Gurgaon, Apollo Munich is a joint venture between the Apollo Hospitals group, and Germany based Munich Re’s newest business segment, Munich Health. The announcement of the ’Apollo Munich’ name is a significant milestone as the company is set to scale its business to garner a sizable share of the growing market for health insurance.

Ms. Shobana Kamineni, Director, Apollo Munich, said in the interview “The new name is in line with our brand strategy to communicate the deep rooted expertise of the company.”

“Apollo is a household name synonymous with the best quality healthcare and our partner company Munich Health is a true pioneer in the field of global health risk management. We felt it was necessary to have the brand reflect the strong foundation and build greater familiarity with consumers as we grow our business,” she added further.

Apollo Munich is eyeing to robust its growth plans. They are eyeing to double the number of policy selling agents and increase the company headcount. By the year 2013-14, they are also aiming to achieve a market penetration of 5% of the retail health insurance.