Max Life Insurance

Life insurance premiums in November slip 4.5% to Rs 25,306.56 crore

According to a Nuvama report, private sector growth picked up in November 2024 as the industry adapted to the changes in surrender value regulations

Life insurance stocks fall; HDFC Life, SBI Life, Max Financial dip up to 7%

According to the latest data, HDFC Life distributes 65 per cent of its insurance policies through banking channels, followed by SBI Life (60 per cent), Max Life (52 per cent), and ICICI Prudential

Sebi issues notice to Axis Bank about stake buy in Max Life Insurance

Capital market regulator Securities and Exchange Board of India has issued a show cause notice (SCN) to Axis Bank and its subsidiaries in a case related to stake buy in Max Life Insurance. In a regulatory filing, Axis Bank said the SCN was issued on October 25 through email. Axis Bank, and its subsidiaries, Axis Securities Limited and Axis Capital Limited, have received an SCN through email from the Sebi, it said. The SCN is being reviewed and will be filing responses to the SCN with Sebi as the said transactions were undertaken with requisite regulatory approvals, it said. Meanwhile, Max Financial Services Limited, the holding company of Max Life Insurance also said a few directors and a few key managerial personnel of the company (in each case, 'both past and present) have received a SCN through email from Sebi. Earlier this year, the Axis Bank's board of directors approved the proposal to acquire Max Life shares, raising Axis entities' total holding in the insurance firm to 19.

Max Financial Services' promoter sells 3.18% stake for Rs 1,218 cr

Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction. Analjit Singh-promoted Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance. According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares amounting to a 3.18 per cent stake in Noida-based Max Financial Services. The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to Rs 1,218.11 crore. After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.34 per cent from 6.52 per cent. Details of the buyers of Max Financial Services' shares could not be ascertained. Shares of Max Financial Services Ltd fell 1.42 per cent to close at Rs 1,117.25 apiece on the NSE. In August last year

Max Life launches Nifty 500 Momentum 50 Index Fund in ULIP Segment

The fund will track the Nifty 500 Momentum 50 Index, which comprises the top 50 companies within the Nifty 500 index, selected based on their Normalised Momentum Scores

New surrender-value norms: Max Life pencils in 100-200-bp hit to profit

VNB margin measures the profitability margin for life insurers

Life insurers extend rally on healthy growth in Q1; ICICI Pru at 52-wk high

As India marches forward to join the ranks of developed nations, the demand for long-term savings, protection and annuity products will only accelerate, believe life insurers.

Health insurer Niva Bupa files IPO papers with Sebi to raise Rs 3,000 cr

The company intends to utilise net proceeds from the fresh issuance to the extent of Rs 625 crore towards strengthening their capital base and aiding solvency levels, and for general corporate purpose

Board of Axis Bank gives nod to hike stake in Max Life for Rs 336 cr

Max Life Insurance is a subsidiary of Max Financial Services

Axis Bank buys additional stake in Max Life Insurance for Rs 336 crore

Shares of the bank, India's fifth largest by market capitalisation, jumped as much as 2.2% after the news. The stock was among the top gainers on the Nifty 50 index

LGBTQIA+ community prioritises savings over spending, says survey

99% in community aware of life insurance products, says study by Max Life Insurance Company

Max Life plans to hire 30,000 agents, open up to 100 offices in FY25

Company 'targeting gain in market share', says MD and CEO Prashant Tripathy

Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations

Subramanian Swamy moves Delhi HC seeking probe against Axis Bank

Subramanian Swamy has filed a Public Interest Writ Petition against the Union of India, Axis Bank, Axis Securities Limited, Axis Capital Limited, and others before the High Court of Delhi

Benchmarks end flat, MidCap index rises 1.5%; PSB, realty stocks in demand

Stock market highlights on February 7, 2024: In the broader markets, the BSE MidCap index gained over 1.48 per cent, while the BSE SmallCap index advanced 0.35 per cent

Rajiv Anand to replace Analjit Singh as Chairman of Max Life Insurance

Rajiv Anand, served as the non-executive director of Max Life Insurance effective from April 2023 after being nominated by Axis Bank

Axis Bank's infusion will give Max Life enough capital for 2 yrs: Tripathy

This deal was for Axis Bank to go up to 20%, and in the first tranche they had done 13 and 7 more was to go

Indians slowly gaining footing in planning for retirement: Survey

Indians are slowly making progress in retirement planning, even though the country is under-protected in terms of retirement corpus, according to a survey by Max Life Insurance. The India Retirement Index Study (IRIS), conducted in partnership with data analytics company KANTAR, showed a significant upward movement to 47 from 44. The online survey was conducted among 2,093 respondents across 28 cities in India. The index mapped respondents' views on health, finance and emotion. Max Life Managing Director & CEO Prashant Tripathy said people have started giving importance to health and are resorting to health insurance and periodic check-ups, but very few are focusing on physical activity or wellness. As per the survey, 44 per cent of the respondents have a health insurance and 58 per cent have undergone health check-ups in last three years. "People in India has been putting far greater weight to health. Zone-wise, eastern region and Tier 2 cities are making good progress in terms .

Max Financial Services zooms 6% as over 10 mn shares change hands

Till 10:05 AM, a combined 13.49 million shares had changed hands on the counter on the BSE and NSE, representing nearly 4 per cent of the company's equity

MFSL up 12%; hits 52-wk high on Axis Bank buying balance stake in Max Life

Axis Bank said in a filing on Wednesday that it will raise its 9.99 per cent stake in Max Life to 16.22 per cent by infusing Rs 1,612 crores in the entity