Categories: Business

Axis Bank set to acquire stake in Max Life Insurance

Axis Bank would acquire a 29% additional stake in Max Life Insurance for an estimated price of Rs 1,592 crore. The deal will increase the Axis Bank‘s stake in Max Life to 30%. Max Financial Services will hold the remaining 70% in the joint venture.

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The acquisition may be completed in 6-9 months & Post the deal, Max Financial Services and Axis Bank will get to nominate four and three directors respectively on the Max Life board. The total premium generated from both companies exceeded Rs 38,000 crore.

Important takeaways for all competitive exams:

Headquarters of Axis Bank: Mumbai, Maharashtra.
MD and CEO of Axis Bank: Amitabh Chaudhry.
The tagline of Axis Bank: Badhti Ka Naam Zindagi.
Max Life Insurance Company Headquarters: New Delhi.
MD & CEO of Max Life Insurance Company: Prashant Tripathy.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.