Max Life Insurance profit Jumps 6% to Rs. 398 crores for the period ended September 2012, also declares interim dividend.

Max Life Insurance, a private sector life insurer, is a joint venture between Max India Limited and Mitsui Sumitomo Insurance Company Limited. Max India is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is currently amongst the top 10 general insurers in the world. Max Life Insurance has a strong...  Read More »

Max Life Insurance Company declares its first ever Half Yearly Dividend of 5.1% for its shareholders, almost 12 years after it had started it operations in the Indian Insurance Industry. This is quite a commendable feat since Max is now operating with it new partner in India.
 
Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company), one of the largest non-banking private life insurer, is a joint venture between Max India Limited, one of India’s leading multi...  Read More »

Max New York Life Insurance, the largest non bank promoted private life insurer announced the completion of 26% of its stake transfer to Mitsui Sumitomo Insurance Co. Ltd. a MS&AD Insurance Group Holdings. The transfer was made after obtaining the requisite approvals from Insurance Regulatory and Development Authority (IRDA), The Reserve Bank of India and Competition Commission of India earlier this month. The company will now be named Max Life Insurance Co. Ltd. subject to regulatory approval.
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Max New York Life Insurance Company finds a new foreign promoter when New York Life exited the life insurance company by selling its 26% stake to Mitsui Sumitomo for around Rs. 2,730 crores.

A simple calculation – if 26% is equal to Rs. 2,730 crores, then the life insurance company is valued at Rs. 10,507 crores. This is a healthy valuation for the 10 year old life insurance  venture. This is by far the second highest valuation received so far by a life insurance company in India, barring...  Read More »

Private insurance company Max New York Life announced its unaudited results for the first half of FY 2011-12. During this period, the company has seen an impressive rise of Rs 375 crore in its net profits and an 8% growth in its gross revenue of Rs 2,873 crore.

Max New York Life has also done well on other factors like sum assured which increased by 3% and the AUM crossing Rs 14,500 crore mark. Also with a rise in the solvency margin to 456% as compared to only 282% during the corresponding...  Read More »

New business premium of life insurance companies have collectively declined by 2.5% for the month of July 2011 as compared to that in July 2010.
 

Out of the 23 life insurance companies in India, only 7 of them have shown a positive growth. These companies are Life Insurance Corporation of India (LIC), SBI Life Insurance, Max New York Insurance, Aviva Life Insurance, Kotak Life Insurance, Met Life Insurance and ING Vysya Life.

Aviva Life Insurance has taken the highest jump of 94% by...  Read More »

Most people get busy in their lives and do not give much thought to investing in an insurance plan at an early age. Keeping this in mind, Max New York Life Insurance has launched ‘Fast Track Plan’ which is a unit-linked insurance policy (ULIP).

Fast Track Plan is designed to maximize savings along with the benefits of life insurance coverage. It also offers the flexibility to make partial withdrawals to meet any unplanned expenses.

This plan allows a minimum premium investment of Rs. 1 lakh...  Read More »

Life insurance companies in India focused on controlling costs and renewal business which enabled them to make higher profits in 2010-2011 as compared to the previous year.

Last year, when insurance companies were worried about the new guidelines on Unit Linked Insurance Plans (ULIPs) and how it would affect their business, Insurance Regulatory and Development Authority (IRDA) suggested them to cut down on costs in order to stay profitable. This suggestion hinted towards redesigning of...  Read More »

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...  Read More »