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Max New York Life to hike capital by Rs.800 crore

Max New York Life Insurance will raise additional capital of Rs.800 crore to meet their expansion expenditure.

Apnainsurance.com Research Bureau

29 Apr 2008

Max New York Life Insurance will raise additional capital of Rs.800 crore to meet their expansion expenditure. The capital sharing ratio for the company will be 74:26 by Max India and US-based New York Life Insurance, the joint venture partners.

The target set by the company for 2011 is increasing the agency force to 2 lakh from the present 36,500 and engage 25,000 employees from the present 7,500. They are targeting the south and the east of India and coming up with more 100 branches.



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