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."
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.
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.
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
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
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.
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
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).
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.
Irda nod to policies with flexible premium, sum assured and tenure.
Max New York Life on Wednesday announced the launch of a unit-linked endowment plan, Life Maker Premium.
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.
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.
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.
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.
Max New York plans foray into micro insurance.
Max New York Life's recently launched Ulip gives you the all-equity option
Max New York Life, a private life insurance company requires direct sales executives.
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.
Deal with current owner Exide may be signed next week
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