Axis Bank becomes a co-promoter of Max Life
Posted On: 2021-04-06 10:17:41 (Time Zone: Arizona, USA)
Axis Bank Limited ( Axis Bank ), India s third largest private sector bank, together with its subsidiaries Axis Capital Limited and Axis Securities Limited (collectively referred to as Axis Entities ) have become the co-promoters of Max Life Insurance Company Limited ( Max Life ), after completion of the acquisition of 12.99 % stake collectively by the Axis Entities in India s fourth largest private life insurance firm - Max Life. The Board of Max Life recorded the closure of the deal today.
The transaction was completed after the Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February this year. Max Life s holding company Max Financial Services Limited ( MFSL ) and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020.
मैक्स समूह ने मैक्स लाइफ में 13 प्रतिशत हिस्सेदारी एक्सिस बैंक को बेची business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
New Delhi [India], April 5 (ANI/SRV Media): India Diversity Forum s inaugural edition of its annual congress, India Diversity Conclave, will be held on the 7th of April, 2021. A virtual PAN India event will be presented by Zee Entertainment Enterprises Ltd. (ZEEL).
India Diversity Forum is an independent body, a Section 8 company, formed with the aim of creating more awareness about diversity and inclusion (D & I), sharing the best practices on D & I in various organisations, sensitizing professionals at various workplaces and taking it further ahead - from policies to practice to make a difference in India Inc.
India Diversity Conclave (IDC) is the annual conclave of IDF. Its presenting partner, Zee Entertainment Enterprises Ltd., believes in IDF s vision and itself aims to have a 50:50 male-female ratio in the conglomerate by 2024. It is striving to become a more gender-inclusive workplace in the coming years.
Covid 19 surge: Non-life insurers brace for more pain from rising cases
Surabhi
Mumbai |
Updated on
Life insurers say impact limited till now
Amidst the second wave of Covid-19 cases in the country, insurance companies say they are poised to deal with rising claims but general insurers are worried about the impact on their balance sheets. For the life insurance sector, the pandemic has posed less of a challenge as the number of deaths has been much lower than the active case load.
“The first quarter of this fiscal will be challenging for all non-life insurers as health claims are on the rise again. While Covid-19 claims are surging, people are also getting elective surgeries done,” said the head of a general insurance company, adding that if cases continue at this level then it would also begin to dent the balance sheets.