Max Financial Services (MFSL) has completed the acquisition of the balance 5.17% stake in Max Life Insurance Company (Max Life), a material subsidiary of the Company from Mitsui Sumitomo Insurance Company, Japan (MSI). After the aforesaid transaction, the shareholding held by the Company in Max Life stands increased to 87%.
Earlier, in November 2022, the company had received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to acquire balance 5.17% stake in Max Life.
Max Financial Services is a part of the Max group, an Indian multi business corporation.
