Axis Max Life Insurance

Axis Max Life Insurance
Company type
Joint venture
IndustryFinancial services
Founded2001; 25 years ago (2001)
Headquarters
New Delhi, India
Key people
Mr Sumit Madan (Managing Director & Chief Executive Officer) , Mr Amrit Singh (Director and Chief Financial Officer) , Mr Anurag Chauhan (General Counsel and Company Secretary)
Products
Owner
Websitewww.axismaxlife.com
Footnotes / references
[2][3]

Axis Max Life Insurance Limited (formerly known as Max New York Life Insurance Company Limited and Max Life Insurance Company Limited) is an Indian life insurance company headquartered at New Delhi, and the largest non-bank private-sector life insurer in India. It is an 80:20 joint venture between Max Financial Services and Axis Bank. The company is a subsidiary of the publicly listed Max Financial Services. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001.

History

Max Life Insurance started as a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Group. The former owned 68% of the company while the latter owned 26%.[4] After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016, Axis Bank held a 6% share in Max Life.[5] On 13 December 2024, Max Life Insurance rebranded itself to Axis Max Life Insurance.[6]

References

  1. ^ "Overview of Max Life" (PDF). Max Financial Services. Retrieved 20 January 2023.
  2. ^ "A STUDY ON INSURANCE MARKETING AND AXIS MAX LIFE INSURANCE PLAN IN THANJAVAUR DISTRICT" (PDF). Iaraindia.com.
  3. ^ "Analysis of Life Insurance Industry in India" (PDF). .canarahsbclife.com.
  4. ^ "Mitsui buys Max Life stake @Rs 2,731 cr - Indian Express". archive.indianexpress.com. Retrieved 29 March 2017.
  5. ^ Reporter, B. S. (29 February 2016). "Axis Bank hikes stake in Max Life to 5.99%". Business Standard India. Retrieved 29 March 2017.
  6. ^ "Max Life Insurance Rebrands to Axis Max Life Insurance" (PDF). Axis Max Life Insurance. 13 December 2024. Retrieved 28 December 2024.

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