India Eco Summit: Apollo DKV sees 100% rise in premium kitty

Health insurer Apollo DKV today said it expects to double its premium collection to over Rs 100 crore in the current fiscal.

"We will cross Rs 100 crore (mark in premium collection). We will double from last year's collection," Apollo DKV Director Shobana Kamineni told PTI on the sidelines of India Economic Summit here.

Last fiscal, the insurance company mopped up Rs 48.95 crore premium and in the first six months of 2009-10, it has crossed the figure by raising Rs 48.91 crore.

In September this year, the insurer has collected Rs 14.28 crore premium, against Rs 3.16 crore mopped up in the corresponding month last year, according to latest figures by insurance regulator IRDA.

Apollo DKV is a joint venture between the Apollo Hospitals Group, its associates and Europe-based DKV AG.

She further said that the company plans to grow by 200 per cent in the next fiscal.

Replying to a query on Apollo DKV’s capital infusion plans, she said that the company plans to infuse Rs 30-40 crore in the remaining months of the current fiscal.

The insurance company was launched in August 2007 and so far it has infused about Rs 200 crore.