Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company Limited) is a life insurance company in India with a joint venture (JV) between Max India Ltd and Axis Bank The company is a subsidiary of the publicly listed Max Financial Services and is the largest non-bank private-sector life insurer in India. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001. Analjit Singh, founder of Max Healthcare, is the chairman of Max Life Insurance.[1] The company is headquartered at New Delhi.
Max Life Insurance is a part of the Max India Ltd. Group and is India’s largest non-bank private-sector insurer, which focuses on creating both online and offline channel where customers could buy policies without any intermediaries in a safe and secured manner. It is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company. The former owns 68% of the company while the latter owns 26%.[2] After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016, Axis Bank held a 6% share in Max Life.
