Apollo Munich, the standalone private health insurer, is eyeing a gross premium of around Rs 2300 crore in 2018-19.

The joint venture between Apollo Hospitals Group and Munich Health, a business segment of Munich Re, had registered a gross premium of Rs 1717.50 crore in 2017-18.

A stronger distribution network and an expanded product base will be the growth drivers for the insurance company that has a market share of around 17 per cent among six standalone private health insurers in the country.

“We have opened more offices, expanded our staff and agents base, tied up with more banks and financial institutions and added new products. These would be the key growth drivers,” said Sanjay Manaktala, chief executive officer (north and east zone), Apollo Munich Health Insurance.

The company, which has a portfolio of 13 insurance products, has introduced a comprehensive cancer plan called iCan that covers basic medical needs as well as financial security for the family.

The health insurer will focus on having a portfolio of disease-specific specialised insurance products, Manaktala added. According to the data provided by IRDA, the gross direct premium underwritten by standalone health insures in 2017-18 was Rs 8296.43 crore.