Max Life Insurance promoter Analjit Singh. The board of Max Financial had on 21 March approved raising Rs5,000 crore by way of debt to invest in Max Life Insurance. Mumbai: Max Financial Services Ltd on Monday said that its board has approved submission of fundraising proposals from KKR Capital Markets India Pvt. Kotak Mahindra Life Insurance Co. Ltd, Tata AIA Life Insurance Co. Ltd, Aditya Birla Sun Life Insurance Co. Ltd and Exide Life Insurance Co. Ltd have also shown interest in buying IDBI Federal Life’s insurance assets in India,Analjit Singh-promoted Max Life’s plans to acquire IDBI Federal Life came after its proposed merger with HDFC Standard Life Insurance Co. Ltd collapsed in late July last year. The merger of HDFC Standard Life Insurance and Max Life would have created an insurance giant with Rs1.1 trillion in assets.

Source: Mint April 09, 2018 22:41 UTC