In 2017, Analjit Singh-promoted Max Life Insurance’s proposed merger with HDFC Standard Life Insurance collapsed due to lack of regulatory approvals. Photo: HTMumbai: Max Life Insurance Co. Ltd has emerged as the leading candidate to buy out or pick up a majority stake in IDBI Federal Life Insurance Co. Ltd, said two people directly aware of ongoing talks. Tata AIA Life Insurance Co. Ltd, Kotak Mahindra 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. An IDBI Federal Life spokesperson said the firm does not comment on speculation. Max has a tie-up with Axis Bank, and IDBI Federal Life, too, has a banking channel.

Source: Mint February 12, 2018 18:56 UTC