Apollo Hospitals has today announced the incorporation of a new wholly-owned step-down subsidiary, Apollo 24|7 Insurance Services Limited. This new entity, established under Apollo Healthco Ltd., aims to engage in the corporate insurance agency business, including life, general, and health insurance.
The subsidiary was officially incorporated on September 3, 2024, and marks a strategic expansion for Apollo Hospitals into the insurance sector. The company plans to leverage technology and online platforms to enhance its insurance services. The initial share capital for the new entity is set at ₹1 crore, fully subscribed in cash by Apollo Healthco Ltd.
As part of its broader strategy, Apollo 24|7 Insurance Services Limited will focus on acting as agents, representatives, and advisors within the insurance industry, with plans to acquire necessary licenses and permissions to operate effectively.
This development further diversifies Apollo Hospitals’ portfolio and aligns with its ongoing efforts to expand its services beyond healthcare into the financial services sector.