max life insurance
Max Life Insurance
Max Life Insurance Company Limited is a life insurance company in India with a joint venture 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 privately owned business and operates under three segments - general insurance, personal and commercial auto insurance, as well as reinsurance.
MAX LIFE INSURPANION COMPANY LIMITED IS A GENERAL INSURER AND OPERATES UNDER THREE SEgments: GEOGRAPHIC PREPARATION & EXECUTION SERVICES; GUARANTEE SERVICE & EXECUTION; AND RESEARCH & STRATEGY.
It is also known by its abbreviation MAX.
Max Life Insurance Company Limited (MPIL) is an Indian company based in Mumbai that was established on August 27, 1983 and is wholly owned by Max Financial Services. MPIL has been trading on the Bombay Stock Exchange since November 21, 2004 and is currently quoted at BSE:MPLX. MPIL’s shares are traded on the Main Market of the stock exchange under the ticker symbol ‘MPLX’. They are quoted on the Sensex of the National Securities Exchange and the Equity benchmark on the Sensex. The management of MPIL is headed by Chief Executive Officer Mr. Arvind Kumar who was appointed to that office on July 19, 2010, after his promotion from the Senior Vice President position of Finance & Operations at AXA group and Max Life Insurance Company Limited (MLF).
MPIL’s core businesses include:-
General insurance, personal auto insurance, medical insurance, home life insurance, travel & leisure, institutional asset management, corporate finance businesses and other financial services companies. For more information on these core businesses, click here.
ABOUT MPIL
Established during the golden years of the country, MPIL is one of the fastest growing private financial institutions in the country – with investments in over 11 sectors including insurance, real estate, retail, infrastructure, technology, media, mining, manufacturing, telecom, IT etc. MPIL offers investors diversified exposure across industry verticals across the globe. Its subsidiaries are operating throughout India, Africa, Eastern Europe, Asia, Australia, New Zealand, the Americas, CIS countries, Central America & South America, Africa, Middle East /African, South America, US and Gulf Cooperation & Organization (GCC & OBC) with approximately Rs. 7,000 crores of equity capitalization and nearly 40,000 employee strength. With its headquarters located in Mumbai, MPIL is part of DIPAM Group which is the second largest insurance carrier and holds 25% shareholding in Bharatiya Janata Party (BJP). Since 1999, when Mahindra & Mahindra Private Equity acquired 48% stake in MPIL, DIPAM Group has grown from being the third-largest insurer, public sector investor and public wealth manager into a global player with investments in excess of ₹1 trillion across 15 industries across five continents. This is despite the fact that they were first among private equity firms to raise their capital in 2014 with only 2.7 million rupees (Rs. 1.3 bn), less than half their shareholding in MPIL (3.6 million rupees). MPIL is committed to leveraging its human resources, technology and operational expertise to improve customer experience as well as reduce overall risk across its operations.
MPIL’s financial strength and liquidity position are strengthened through several strategic agreements that ensure prudent utilization of risk resources. The company combines disciplined risk management processes, broad financial resources across its business domains and robust investment capability with high quality people and assets. As per latest data published by NCAO, MPIL is ranked #1 amongst non-life insurers for total number of premium written and distribution revenues in terms of revenue(USD). In 2019, MPIL had an outstanding cash balance of over 24.8 billion with total assets of over 32.8 billion. In recent times, it extended its leadership positions in all business segments as follows: General insurance; Personal and Commercial Auto Insurance; Resudden Death benefit and Risks Management; Reinsurance on Third party operations; Human Capital; Employee Benefit and Education benefits. For more details visit our website at www.mpil.org
FOR MORE INFORMATION OR TO ASK FOR A COPY OF THIS RELEASE ONLINE AT https://www.maxlifeinsurance.com/
SOURCE MAX LIFE INSURPANION COMPANY LIMITED
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