Read more about Axis Bank stake in Max Life likely to rise to 20 pc in 12-18 months on Business Standard. In line with the proposed deal, Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 12-18 months, said the insurance company s CEO Prashant Tripathy said.Currently, Axis Bank and its two subsidiaries
"Axis Bank is to increase to 19.99 per cent in tranches. Thirteen per cent is already done over the next two quarters, we will seek approval for the balance seven per cent. So, it will reach about 20 per cent and that will be the ownership of Axis Bank," Tripathy told.
Max Life launches new pension plan with guaranteed financial protection
By IANS |
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Insurance.. Image Source: IANS News
New Delhi, May 17 : Max Life Insurance Company on Monday announced the launch of Max Life Saral Pension , a Non-Linked, Non-Participating Single Premium, Individual Immediate Annuity Plan.
The plan guarantees a regular stream of income in one s golden years, offering customers a chance to maintain their lifestyle pre and post retirement with the assurance of guaranteed income as long as the policyholder lives.
The product has been launched at a time when a large section of the society is showing an inclination towards securing their future financial stability. According to the findings of Max Life s recent survey India Protection Quotient 3.0 in association with KANTAR, it was revealed that in the backdrop of Covid-19, around 52 per cent of urban India is saving for retirement/old age security.