Max Group sells 13% stake in life insurer Max Life to Axis Bank thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Axis entities-Max Life Insurance deal gets IRDAI s nod telegraphindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegraphindia.com Daily Mail and Mail on Sunday newspapers.
The Insurance Regulatory and Development Authority of India (Irdai) has given its nod to Axis entities Axis Bank and its subsidiaries for acquiring up to 12 per cent stake in Max Life Insurance, paving the way for Axis firms to become a joint venture partner in the life insurance company.
Axis Bank will acquire 9 per cent stake in the life insurance company while Axis Capital and Axis Securities will acquire another 3 per cent in the first leg of the transaction. Furthermore, Axis entities Axis Capital & Axis Securities will have the right to acquire another 7 per cent in the life insurance company, something they intend to do in the coming years.
IRDAI approves Axis Entities stake acquisition in Max Life Insurance businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.