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
Outgoing MD Sud said it has been a fulfilling journey and privilege to build Max Life since inception
Max Life policies grew 18 per cent in 2018 after a growth of about 1.9 per cent in the preceding year
Shareholders of both companies will gain from synergies and being part of a larger entity
In November 2008, he had taken over as the CEO and Managing Director of the company