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Max Life Insurance Company is a joint venture between Max India Limited (74%) and Mitsui Sumitomo Insurance Company Limited (26%). The company started its operations in the April 2001. Mitsui Sumitomo Insurance Company bought out of the stake of New York Life Insurance Company in mid 2012. Subsequently the company was renamed from Max New York Life Insurance Company to Max Life Insurance Company.
Max India Limited, a multi-business Public Limited company has established businesses that are today recognized as being at the fore front of service excellence, in each of the industry sectors where it operates. In the India, the group is best known through Max healthcare and its chain of hospitals. Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group which is currently among the top 10 general insurers in the world and ranked number one in Japan.
Max Life Insurance offers comprehensive life insurance and retirement solutions for long-term savings and protection both traditional and unit linked insurance plans. It has a country-wide diversified distribution model including the country's leading agent advisors, exclusive arrangement with Axis Bank and several other partners. Max Life Insurance is a quality business focused on delivering excellence to customers through advice based sale process, customer centric approach to business, financial stability & investment expertise and strong human capital.
Rajesh Sud is the Managing Director and CEO of Max Life Insurance Company.
| Year | 2007 - 08 | 2008 - 09 | 2009 - 10 | 2010 - 11 | 2011 - 12 | 2012 - 13 | 2013 - 14 | 2014 - 15 | 2015 - 16 | 2016 - 17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Claims ratio | 90.37 | 90.02 | 65.51 | 77.96 | 89.84 | 94.25 | 93.86 | 96.03 | 96.95 | 97.59 |
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