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Max Life Insurance is one of the prominent life insurance companies in India. The company has cemented its name in the insurance sector with excellent customer service and innovative insurance plans. However, behind the company’s impressive track record lies the driving force of its success; its three major promoters: Max Group, Axis Bank, and Mitsui Sumitomo Insurance Group.
In this article, we will talk about Max Life Insurance, its shareholding pattern, and promoters.
As per the annual reports of FY 2022-2023:
Below given is this shareholding pattern Max Life Insurance as per the annual report for FY 2022-2023:
Holding % (as as of 30th June 2022)
Max Financial Services Limited
Mitsui Sumitomo Insurance Company Limited
Now, let us tell you in a nutshell about the promoters of Max Life Insurance:
Max Financial Services Limited is part of Max Group, a prominent Indian conglomerate and the majority parent holding company of Max Life Insurance. The company’s main objective is to provide long-term insurance solutions through its subsidiary Max Life Insurance. The company also offers financial solutions and wealth management services to its customers.
Axis Bank is a leading private sector banking institution in India established in 1993. Headquartered in Mumbai, the bank provides a wide range of services to its customers such as home loans, corporate loans, insurance investments, portfolio management services, etc. As of 2022, Axis Bank has a network of 4500+ branches, 75,000+ employees, and 10,000+ ATM centers. Life Insurance Corporation of India (LIC), National Insurance Company Limited, and United India Insurance Company Ltd are among the major promoters of Axis Bank.
Mitsui Sumitomo Insurance is a prominent insurance company headquartered in Tokyo, Japan. It is the subsidiary of MS & AD Insurance Group, one of the largest insurance institutions in the world.
The company offers a wide range of insurance products like marine insurance, aviation insurance, life insurance, health insurance, life insurance, and more.
This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.