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).
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."
The Asian Indian Market of New York Life Insurance Company has been nominated for a New York Emmyr Award for 'The Elephant', a 60-second TV commercial that was aired in the US from August to November 2005.
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.
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
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.
Max New York plans foray into micro insurance.
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.
The five-commercial campaign, "Life is Beautiful with. . . The Company You Keep" and The Watchman, , one of the commercials in the campaign, aired in the United States last year.
Max New York Life, a private life insurance company requires direct sales executives.
Deal with current owner Exide may be signed next week
Irda nod to policies with flexible premium, sum assured and tenure.
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
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
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.
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 US-India Business Council said on Friday it has appointed Joseph Gilmour, chairman and chief executive officer of insurance firm New York Life International, to its board of directors.
As part of the deal, Hilton will continue to operate the property for 100 years and the 1,413 room hotel will undergo a major renovation.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
'In the time I have been an Indiawallah, I have seen three US Presidential visits to India, nuclear sanctions, nuclear cooperation, a border conflict with Pakistan, the growth of IT services, a government losing a confidence vote, and so much more,' Rick Rossow, the new Wadhwani Chair in US-India Policy Studies tells Rediff.com's Aziz Haniffa.
...or just a Covid-era practice, asks Ajit Balakrishnan.
Finance Minister Nirmala Sitharaman on Tuesday highlighted "significant reforms" undertaken by the government including National Monetisation Pipeline (NMP) and National Infrastructure Pipeline (NIP) as she met institutional investors in Boston. Sitharaman arrived in the US on Monday for a week-long trip to attend the annual meet of the World Bank and IMF in Washingon as well as G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. During the official visit to the US, Sitharaman is expected to meet US Treasury Secretary Janet Yellen.
Just a few weeks ago, the Centre has come out with the long-awaited Motor Vehicle Aggregator Guidelines, which have drawn a dismayed response from the companies concerned.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
ICICI Bank puts up a good show in Q4.
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Rediff reader Arun Mehta who's lived and worked in multiple countries shares his wisdom.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Prime Minister Narendra Modi has been named among the 30 most influential people on the internet by Time magazine in a list which also features US President Barack Obama.
'We were lucky, in many ways, that we got the disease late.'
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances