Max Financial Services


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. In February 2020, the company entered into a long-term strategic partnership with Axis Bank.
The Japanese insurance group, Mitsui Sumitomo, which is the joint-venture partner in Max Life Insurance, acquired a 21.87% in the company in March 2020, using a stock swap scheme.

Subsidiaries

Max Financial Services owns Max Life Insurance, which is the largest private insurance company in India that is not owned by a bank. As of February 2020, it's embedded value was 10,077 crore.

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. This deal followed an agreement of strategic partnership that was signed between the two companies in February 2020.