The company, which recently approved a plan to invest an additional Rs 26 billion to take its total investment to Rs 36 billion by 2011-12, had deferred its target for breakeven for faster growth. Max New York Life Managing Director Rajesh Sud said the company would look at sum assured rather than the first year premium and added that "we are very comfortable being the number fifth or sixth on first year premium, provided we are retaining our clients."
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
According to Sud, MYNL had sold most of its holding in Satyam immediately after the IT major made an aborted bid to acquire Maytas Infra and Maytas Properties for $1.6 billion on December 16, 2008. MYNL still holds 6,000 equity shares of Satyam.
Leading private insurance company Max New York Life Insurance Co said on Friday it will infuse Rs 400 crore (Rs 4 billion) to its paid up capital in the next two years and expected to break even by 2008.
With the Insurance Laws (Amendment) Bill awaiting Parliamentary approval, Max India, Analjit Singh's flagship company, has started discussions on divesting 23 per cent out of its 74 per cent shareholding in Max New York Life Insurance to its foreign partner.
Homebound missed an Oscar nomination; Sinners broke the record by getting the most nominations ever, at 16 counts.
Max New York Life Insurance Co Ltd, 26 per cent owned by New York Life, expects the premium income of private life insurers in India to grow at a compounded annual rate of 75 per cent over the next five years.\n\n\n\n\n\n
Max New York plans foray into micro insurance.
Max New York Life on Wednesday announced the launch of a unit-linked endowment plan, Life Maker Premium.
Private insurance company Max New York Life on Wednesday announced the signing up of Indian cricket team's vice captain Rahul Dravid as their brand ambassador.
The iconic editor who reshaped fashion, has transcended her role as editor and become a pop culture icon, famously immortalised in the movie, The Devil Wears Prada.
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Renowned playwright Lolita Chakrabarti's stage adaptation of the story of 16-year-old Indian boy Pi (Piscine) Patel stranded in the ocean on a lifeboat with a Royal Bengal Tiger named Richard Parker opened at Broadway's Gerald Schoenfeld Theatre on March 30.
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
Vijay is the name of the character that Amitabh Bachhan has played in many of his movies. In most cases, Vijay belonged to the underprivileged class. It's a curious coincidence that the megastar has just become brand ambassador for an insurance product called Max Vijay, a product targeting the poor.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
Max New York Life's recently launched Ulip gives you the all-equity option
Irda nod to policies with flexible premium, sum assured and tenure.
After reporting low numbers in new business premium, life insurance companies are resorting to special initiatives to increase business from the rural segment, which they term as emerging markets.
At a macro level the Union Budget 2012-13 is a balanced one. The Finance Minister has taken step to create an environment for sustainable growth. The marginal increase in exemption limit on personal taxation to Rs 2 lakh and realignment of tax slabs would leave more money in the hands of the consumers.
Max New York Life, a private life insurance company requires direct sales executives.
A recent survey revealed that 99.9 per cent of households in Chennai believe they are financially at risk due to ineffective saving habits and misplaced financial optimism.
The survey carried out by Max New York Life and the NCAER based on income data has found that India has less poverty than estimated by the government's National Sample Survey.
Deal with current owner Exide may be signed next week
The Tata group-owned Air India will induct over 90 aircraft in two years as it looks to widen its footprint and grab a larger market share. The plan includes 56 planes from the mega aircraft order that the airline has now finalised with Airbus and Boeing. These will be in addition to previously announced leases of 36 planes that include Airbus A320Neo, A321Neo, and Boeing 777 aircraft.
Yes Bank will tap the market with its maiden public offer within the next 90 days to raise about Rs 300 crore (Rs 3 billion) for expansion, its CEO Rana Kapoor said on Wednesday.
The Comedy Pet Photo Awards 2023 has revealed the top 25 Funniest entries of 2023 in its final shortlist.
Sharan Shetty from India wins 1st Place as Photographer of the Year in the 14th Annual iPhone Photography Awards 2021.
'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
Even with an ongoing pandemic, theatres in many states functioning at 50 per cent occupancy, a quieter social life and fewer movies, Bollywood still managed to pack in plenty of drama and trauma, fun and festivity, love and war into the year.
Friedman had said she was grabbed and kissed by a sailor in a euphoric moment that made for one of the most defining American photos of the 20th century.
The new iPhones are "jam packed with new capabilities and an incredible new design", said Apple chief executive Tim Cook.
The actor was found with a hypodermic needle sticking out of his arm.
Whether they live away from their families or with them, all CEOs struggle with work-life balance, says Shyamal Majumdar.
Wheeling round, a look of utter shock on its face, a marmot jumps in fright after a young fox sneaks up behind it. The split-second encounter between prey and predator -- called the Moment -- has won the man who captured it the title of Wildlife Photographer of the Year. He was chosen from a longlist of various category winners, all of whom managed to record the oddities, rivalries and beauty of the natural world. Scroll down for some of the winners.
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