Max Life Insurance Company ltd (earlier, Max New York Life Insurance Company Ltd.) was found in 2000 by Mr. Analjit Singh who is currently the Chairman of the company. Max Life Insurance is a joint venture between Max Financial Services (68%) and Mitsui Sumitomo Insurance Company (26%)

Products Offered

  • Child Plan
  • Growth plan
  • Term Plan
  • Savings Plan
  • Group Plan

Recent Developments

By August 2016, new broke out of merger of Max Life Insurance with HDFC Life Insurance and the deal is expected to take around 1.6 years to become live. Market value estimated post merger stood at INR 67,000 Crores with following share breakup:

  • HDFC – 42.5%
  • Standard Life – 24%
  • Mitsui Sumitomo – 7.8%
  • Max group – 6.6%
  • Axis Bank – 1.2%

Key People

  • Mr. Rajesh Sud (MD)
  • Mr. Prashant Tripathy (CFO)
  • Mr. V.Viswanand (COO)
  • Mr. Aalok Bhan (CDO)
  • Mr. Amitabh Lal Das (Head – Legal)
  • Mr. Mihir Vora (CIO)
  • Mr. Shailesh Singh (CHO)
  • Mr. Jose John (Appointed Actuary)

Financials

Sum Assured in Force – INR 4.13 Lac Crores

Asset Under Management – INR 47,023 Crores

No. of Offices – 210

Coverage across India – 143 cities

No. of Individual Policies in Force – 39 lac +

No. of Group Policies in Force – 463

Agent Base – 50,470

Employees – 9,506

Mort. – 163

Overall, Max Life Insurance is going with similar pace as that of the Indian Online Market. The total products are 16 with 13th month persistancy being above 82%

Max Life Insurance
Rating: 5

Comments:

  • October 15, 2017 at 10:19 am
    Permalink

    i am interested.

    Rating: 5
    Reply

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