Health insurer Apollo DKV Insurance Co. Ltd plans to invest up to 5 billion rupees in the next five years to increase market share, Vice Chairperson of the Apollo Hospitals Group, Shobana Kamineni, told reporters on the sidelines of a health insurance summit on recently. “To be a significant player we need at least 15 percent of business in the health insurance sector in India,” she said. She estimated the health insurance business in India at US$ 1 billion now. The addressable market is the 250 million middle class Indians, she said. The company is a joint venture between Apollo Hospitals Group, which holds 74 percent in the venture, and DKV Deutsche Krankenversicherung AG, which is a part of German re-insurer Munich Re (MUVGn.DE: Quote, Profile, Research). Apollo Hospitals Enterprise Ltd (APLH.BO: Quote, Profile, Research) is the flagship of the Apollo Hospitals Group. The venture has so far invested 1 billion rupees in India. In the five months of its operations in India, Apollo DKV Insurance Co has generated 100 million rupees revenue in premiums collected.