Max Life Insurance Company

Linking Of Aadhaar With Insurance Policy Is Mandatory, Says IRDA

On Wednesday, 8th Nov 2017, the Insurance Regulatory And Development Authority Of India (IRDA) said that the linking of Aadhar number with insurance plans is compulsory and asked insurance companies to implement the statutory norms.  “The Authority clarifies that, linkage of Aadhaar number to insurance policies is mandatory under the…

FIPB Clears FDI Proposals Worth Rs 7,262 Cr

Japanese insurance company Nippon Life Insurance, Tata AIA and Aviva Life were among the 15 companies whose foreign direct investment proposals totalling Rs 7,262 crore have been permitted by the FIPB. Moreover, the proposal of YES Bank to raise  the foreign investment limit to 74 per cent from existing 41.87…

Partnerships

Axis Bank Purchases 4.99% Stake

On February 29, 2016, Axis Ban bought 9,57,48,762 shares of face value of Rs. 10/- each, or 4.99% equity stake, in Max Life Insurance Company Limited from Max Financial Services Limited, previously known as Max India Limited, and Mitsui Sumitomo Insurance Company Limited for a total cash consideration at par (Rs. 10/-…