Max Financial Services Limited
 | It has been suggested that this article be merged into Max Life Insurance. (Discuss) Proposed since September 2020. |
| Public | |
| Traded as | |
| ISIN | 🆔 |
| Industry | Life insurance |
| Founded 📆 | 1988 |
| Founder 👔 | Analjit Singh |
| Headquarters 🏙️ | Max House, New Delhi, India |
Area served 🗺️ | India |
Key people | Mohit Talwar (managing director)[1] |
| Products 📟 | |
| Revenue🤑 |  US$2.5 billion[2] (2019) |
| Owner | Max Group |
| Members | |
Number of employees | |
| Subsidiaries | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Max Financial Services Limited is an Indian public company headquartered in New Delhi, India. It is a subsidiary of Max Group, and is the holding company for the group's life insurance business, Max Life Insurance.[3] In February 2020, the company entered into a long-term strategic partnership with Axis Bank.[4][5]
The Japanese insurance group, Mitsui Sumitomo, which is the joint-venture partner in Max Life Insurance, acquired a 21.87% stake in the company in March 2020, using a stock swap scheme.[6][7]
Subsidiaries
Max Financial Services owns Max Life Insurance, which is the largest private insurance company in India that is not owned by a bank.[8] As of February 2020, its embedded value was ₹10,077 crore ($1.3 billion).[9]
Axis Bank deal
In April 2020, Axis Bank acquired a 30% stake in Max Life Insurance, a subsidiary of Max Financial Services, for ₹1,600 crore ($213 million).[10][11] This deal followed an agreement of strategic partnership that was signed between the two companies in February 2020.[12]
References
- ↑ "Max Financial Services Shares Climb 7.7% after Q2 Results". News18. 7 November 2019.
- ↑ https://www.maxindia.com/wp-content/uploads/2019/07/Max-India-AR-2018-19.pdf
- ↑ "Max Financial To Acquire Mitsui Sumitomo's 21% Stake In Max Life Via Share Swap". BloombergQuint.
- ↑ Sanyal, Rashmi (20 February 2020). "Axis Bank in pact with Max Financial Services, Max Life to explore partnership". Livemint.
- ↑ Kumar, Arun (21 February 2020). "Axis inks pact with Max Fin and its unit for likely strategic deal" – via The Economic Times.
- ↑ "Japan's Mitsui Sumitomo Insurance to acquire 21.87% stake in Max Financial Services in share swap deal". Firstpost.
- ↑ Market, Capital (5 March 2020). "Board of Max Financial Services approves Mitsui Sumitomo Insurance's share swap" – via Business Standard.
- ↑ "max life insurance: Axis Bank to acquire 30% of Max Life for ₹1,600 crore - The Economic Times". Economictimes.indiatimes.com. Retrieved 1 May 2020.
- ↑ PTI (5 February 2020). "Max Financial Services' Subsidiary Max Life's Embedded Value Crosses Rs. 10 000 Cr. Mark Max Financial Services Q3FY20 Consolidated Revenue Grows 19 to Rs. 5 366 Cr. - The Week". Theweek.in. Retrieved 1 May 2020.
- ↑ "Here's how Max Financial deal with Axis Bank will benefit both companies". Businessinsider.in. 24 February 2020. Retrieved 1 May 2020.
- ↑ https://www.bloombergquint.com/business/what-axis-banks-stake-purchase-means-for-max-financial
- ↑ "Axis Bank to explore long-term partnership with Max Life". The Hindu BusinessLine. 20 February 2020. Retrieved 1 May 2020.
External links
- Official website
- Max Financial Services Limited on Wall Street Journal
- Max Financial Services Limited on Financial Times
- Business data for Max Financial Services Limited: Google Finance
- Yahoo! Finance
- Bloomberg
- Reuters
| Founder |  | |
|---|---|---|
| Holding companies | ||
| Subsidiaries | ||
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