Max Life Insurance, one of the life insurers, is a joint venture (JV) between Max India Ltd and Mitsui Sumitomo Insurance Co Ltd. Max India is an Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, a general insurer. Max Life Insurance offers comprehensive life insurance and retirement solutions for long-term savings and protection to three million customers. It has a country-wide diversified distribution model including the country's leading agent advisors, exclusive arrangement with Axis Bank and several other partners.
In the financial year 2011-12 Max Life Insurance ranked fourth among private life insurers with a market share of 8.6 per cent. The Company has been one of the fastest growing life insurance companies with total revenue of Rs 6,391 crore (US$ 1.03 billion) and enterprise profit of Rs 733 crore (US$ 118.83 million) for the FY12. The Company's share capital of Rs 2,127 crore (US$ 344.84 million) with a solvency margin of 534 per cent is indicative of its financial strength and stability. As on March 31, 2012, Max Life Insurance had assets under management of Rs 17,215 crore (US$ 2.79 billion).
Max Life Insurance
|2013||Announced its foray into the E-Commerce space with the launch of the 'Max Life Online Term Plan'|
|2012||Re - named as Max Life Insurance Co Ltd|
|2011||Reached US$ I billion mark in total revenue and recorded its maiden shareholders' profit|
|2009||Received CIO 100 Technology Award, 2009|
|2007||Opened 200th General Office|
Updated: November, 2014