Skip to main content

Merger with HDFC Life Could Have Been a Great Marriage To Have: Rajesh Sud, Max Life Insurance


It has been a popular practice among corporate institutions to merge resources and manpower to increase profits and overall productivity when doing business alone does not yield expected or desirable profits.

One such potentially beneficial merger that was expected to happen was between HDFC Life Insurance and Max Life Insurance. While said merger did not reach completion, Rajesh Sud, Managing Director of Max Life Insurance, admits that it would have been a fantastic business opportunity for both parties involved, should it have been followed through to completion.

Max Life Insurance: Background

Established in the year 2000, Max Life Insurance Company has emerged as one of the most reputed and trusted private insurance companies in India. Max Life Insurance Company Limited is a joint venture of Max India Limited and Mitsui Sumitomo Insurance Company Ltd. While Max India Ltd is an Indian multi-business corporate institution, Mitsui Sumitomo Insurance Co. Ltd is a general insurer. Max Life Insurance Company effectively began its commercial operations in 2001, and has been a well-known name in the financial market ever since.

There are a multitude of reasons why one should invest money with Max Life Insurance, the most noteworthy of which include:

  • Max Life Insurance offers a wide range of comprehensive life insurances, which helps people from all age groups and financial status to find the life insurance that works just right for them.
  • Max Life insurance also offers a wide selection of retirement solutions for aged customers.
  • For the financial year 2013-2014, Max Life Insurance was observed to be the fastest growing insurance company.
  • As of March 2014, Max Life insurance is recorded to have over thirty lakh customers, which is at par with many of its contemporaries.
Merger with HDFC Life

Due to presence of evident synergy and common interest between Max Life Insurance and HDFC Life Insurance, there was a very clear reason and ambition behind the proposed merger between both the companies. Rajesh Sud, the managing director of Max Life Insurance, admits that there would have been countless benefits had the merger been completed, including the combined capability of both the involved companies to create a string of banks as partners.

However, as pointed out by Rajesh Sud, Max Life Insurance still retains a lot of its choicest strengths in place that enables it to be well-prepared for any other merger and/or consolidation opportunities should they arise in the future.

Future Plans for Max Life

According to Rajesh Sud, Max Life Insurance sees opportunities for merger with companies that are backed up by public sector banks. Even while the merger with HDFC Life was still in the works, Max Life Insurance has managed to grow its business in new areas and avenues, with persistency rates that have increased by over eighty percent in the past year.
Max Life Insurance is looking to consolidate with competitors that wish to focus more on their core banking franchise and divest their non-core assets. This would benefit them by providing them a chance to clean up their balance sheets.

Max Life Insurance has fought for the their reputation in the financial industry, and after the collapse of their merger with HDFC Life, they continue to do what they do best: serve people in this cutting edge market. They rely on their bancassurance partners, and on the strength of their agents.

Comprehensive Plans provided by Max Life

Keeping up with their almost two decades’ worth of goodwill and impeccable customer service, Max Life Insurance provides all its users with a large variety of comprehensive life insurance plans that provide protection to the policyholder as well as their family. Such plans include:

  • Max Life Online Basic Life Cover Term Plan
  • Max Life Online Life Cover Term Plan + Increasing Monthly Income
  • Max Life Premium Return Protection Plan
  • Max Life Online Life Cover Term Plan + Monthly Income Max Life Online Term Plan
  • Max Life Protect II Platinum
Max Life Insurance provides ULIP plans—insurance cum investment plans—to their customers as well. Such plans provide customers a chance to grow their money, while also providing them with flexibilities to manage their money and/or investments. Pensions plans provided by Max Life help customers be well-prepared for their old age, for their life after retirement, without compromising on anything at all.

The Max Life Promise

Max Life Insurance has thrived on the trust of their patrons for the past two decades, and their biggest strength is their transparency and flexibility of financial management. Although their merger with HDFC Life would have been a monumental leap for Max Life Insurance and their market stature, the collapse of that merger still does not shake the strong foundations on which the good name of Max Life Insurance is built

Comments

Popular posts from this blog

Education: The Most Essential Investment

Education is one reason for the development of civilization. Every tradition and culture grows depending upon the knowledge imparted to them through their ancestors. Education is realistic and helps in solving problems in the world in a more simplified manner. Education is learning in which the knowledge, skills, values, benefits and beliefs of a group is transmitted from one generation to another through discussions, teaching, training and research. One can even learn to think, feel or act from their experiences. Education is one of the essentials of investment. Inflation Rate in Education Sector Inflation rate in education sector is constantly growing high. With every passing year, the graph of inflation is growing in education sector. Every parent wants to give the best education to their child, and thus to meet the education needs of your child, it is important to make the right investment at the right time. Insurance is your investment for the future happenings and ensur...

Is 5 crores enough to retire in India?

Many people want to save enough money for their future so that they can retire and enjoy their life in a peaceful manner. They always worry about how much money would be enough so that they can survive the rest of their lives without having to work. In this regard, let us discuss some crucial issues you need to consider when you are planning to retire. While some people feel that having one crore is sufficient to retire, few others feel that they need more than 5 crores to be able to lead a comfortable life in future. Factors to consider before planning your retirement There are many factors you need to consider before thinking about retirement. Remember that it is not a simple decision to take in your life and you will be leaving a steady source of income in most cases when you retire from work. The job market is very competitive and it may not be very easy to get a suitable job in future when you stop working for few years. In this situation, if you are past the age of 50 ...

Postal Life Insurance and Life Insurance Corporation of India: What’s the Difference?

When we talk about insurance policies by government, Life Insurance Corporation (LIC) is the first organization that comes to our mind. But not only LIC, Department of posts too offer life insurance under name of Postal Life Insurance (PLI). PLI was launched on February 1, 1884 and is the oldest insurance service provider. Only people working in government organization or associated with it can be a part of the scheme. On the other hand LIC policies are available to every Indian citizen, thus making it more popular among Indian population. What is Postal Life Insurance? Postal Life insurance is an insurance policy that is applicable for all the government employees, be it an employee of military force, financial institution, Deemed University etc. Any person from private sector cannot choose this policy. The entry age is 19-55 years for all plans except the child plan. Maximum entry age under children policy is 45 years; and the child should be between 5-20 years. The sum assur...