Max New York Life Insurance has reported a twelve-fold increase in its net profits to Rs 283 crores for the fiscal 2010-11, up from previous year’s Rs 24 crores.
The company MD and CEO, Rajesh Sud told reporters that, "In spite of significant challenges in the market, we responded extremely well and demonstrated superior all-round performance. While Max New York Life recorded 20% growth in gross revenue, the profit has increased 12 times."
He also added that their assets under management...
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