Max Life

Analysts expect stocks to remain under pressure in the near-term as the government's new tax regime push, with no tax saving deductions, could hurt demand for insurance products

Through this tie-up, the two firms aim to financially secure the lives of TMB's customers across 500 bank branches by offering a comprehensive suite of savings, protection and retirement plans

The regulator indicated that the deal between Max Life and Axis Bank circumvented regulations on commission limits

Check the return for your age, tenure, and premium variant, and if proceeds will be tax-free

Max Life Insurance Company Ltd has incorporated a wholly-owned subsidiary Max Life Pension Fund Management Ltd and will infuse Rs 55 crore into the firm by subscribing to 5.5 crore shares

India's awareness towards life insurance grew significantly over the last two years due to COVID, according to Max Life's annual flagship survey.

According to an analysis of its initial public offer (IPO) filings by Swiss brokerage Credit Suisse, SBI Life, ICICI Prudential, HDFC Life and Max Life will face the maximum impact of the LIC move

A total of 26.2 million shares have been allocated to over 150 funds at Rs 980 per share

The pandemic has brought in a lot of awareness among the people and this is evident from the fact that sale of pure protection plan has seen a significant jump post COVID-19.

In line with the proposed deal, Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 12-18 months, said the insurance company's CEO Prashant Tripathy said. Currently, Axis Bank and its two subsidiaries -- Axis Capital Ltd and Axis Securities Ltd -- collectively own 12.99 per cent in Max Life Insurance post approval of the deal in April this year. With this, Axis entities have now become co-promoters of Max Life with three board seats. "Axis Bank is to increase to 19.99 per cent in tranches. Thirteen per cent is already done over the next two quarters, we will seek approval for the balance seven per cent. So, it will reach about 20 per cent and that will be the ownership of Axis Bank," Tripathy told PTI. When asked about the timeline for the completion of the remaining stake transfer, he said: "It should happen in the next 12 to 18 months." Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven

In addition, Axis entities have the right to acquire an additional stake of up to 7 per cent in Max Life in one or more tranches which they intend to acquire in the next few years

Axis Entities will have the right to acquire another 7 per cent in the life insurance company, in or more tranches

Earlier in October, the Reserve Bank of India (RBI) did not approve Axis Bank''s proposal to raise its stake up to 29 per cent but scaled it down to an aggregate of 19.02% with the subsidiaries

After over six months and three different structures, the deal could be in its final stages of completion

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

In a Q&A, the MD and CEO of Max Life says as a shareholder, Axis will now focus more on pushing high-margin products such as protection, which Indian customers also need

The bank's slippages moderated significantly in March, but provisioning costs because of the coronavirus rose.

Axis Bank and Max Financial Services today announced the signing of definitive agreements to become joint venture partners in Max Life Insurance Company

Private sector lender Axis Bank has entered into an exclusive agreement with Max Financial Services and Max Life Insurance to explore a long-term strategic partnership with the life insurance arm

Max group promoter also plans to sell some real estate assets to repay loans it had raised through the pledging of promoter shares