Max Life Insurance hopes to post even better numbers at the close of 2020-21 on the back of strong distribution network and digital expansion, the company's top official said
Max Life Insurance demonstrated a resilient performance amid a challenging macro environment with 21 per cent annual premium equivalent (APE) growth
Additionally, Axis Capital and Axis Securities will acquire 2 per cent and 1 per cent, respectively, shareholding in Max Life
Top private insurers such as HDFC Life, ICICI Life, and Max Life Insurance registered double-digit growth in December
The transaction entails swapping Mitsui Sumitomo's 20.6 per cent stake in Max Life Insurance with 21.9 per cent stake in Max Financial Services
RBI did not consider Axis's earlier proposal of acquiring 17% stake in Max Life
With 72 per cent gains in six months, the stock is an outperformer in the pack; monthly premium numbers don't provide comfort
Rajasthan Royals has roped in TV9 Bharatvarsh as its principal partner for the 13th edition of the Indian Premier League, to be held in UAE from September 19
Axis Bank had initially planned to raise its stake in the insurer to 30 per cent for about Rs 1,590 crore
Axis Bank, which already holds a minority stake in Max Life, will own an 18% interest in the insurer after the deal
Insurers have made a leap from manual paper-bound process to end-to-end paper-less or digital-based selling through all the channels of distribution
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
After the completion of a series of transactions, Max Life will become a 70:30 joint venture between MFS and Axis Bank
Max Life Insurance is a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance
Prashant Tripathy, managing director and chief executive of Max Life Insurance, spoke to Subrata Panda on how the sector will be impacted, the change in strategy of the company
Max Life is currently the largest non-bank owned private life insurer in India
While the pace of growth for the four listed life insurers has come down, HDFC Life and Max Life fared better
India's fourth-largest insurer is holding about 10% of its assets in cash, a five-fold jump over levels it usually maintains, as it doesn't expect a turnaround in sentiment anytime soon
The current valuations are high, compared to the long-term trend, indicating markets may not go up in line with earnings