Max Life Insurance Company Limited is one of the leading life insurers in India. It is a joint venture between Max Financial Services Ltd – is a part of Max Group, which is leading multi-business corporation and Mitsui Sumitomo Insurance Company Ltd – is a member of MS & AD Insurance Group, which is amongst the leading insurers in the world.
COMPANY DETAILS:
| COMPANY TYPE | Private Ltd |
| Managing Director & CEO | Mr. Prashant Tripathy |
| Foreign Partner | Max Financial Services Ltd Mitsui Sumitomo Insurance Company Limited |
| Contact Details | Toll-free : 1800 200 3383 / 1860 120 5577 Website : www.maxlifeinsurance.com Mail : [email protected] SMS : Type ‘LIFE’ to 5616188 For NRI Helpdesk : 0124 – 5098162; 0124 – 4905150 Mail : [email protected] |
| Latest Claim Settlement Ratio | 99.22% (FY 2019-20) |
| Sum Assured | 9,13,660 Crore (FY 2019-20) |
| Asset Under Management | 68,471 Crore as on March 31st 2020 |
| Solvency Ratio | 207% as on 31st MAR 2019 |
| Brand Ambassador | Mr. Amitabh Bachchan |
| Vision | Max Life envisions to be the most admired life insurance company in India by securing the financial future of their customers |
| Mission | We are an honest life insurance company, committed to doing what is right. The company serve our customers through long-term savings, protection and retirement solutions, delivered by our high-quality agency and Multi-channel distribution partners We are a business with strong social relevance and contribute to society by supporting causes in health and well-being. |
| Year of start | 2000 |
| IRDAI registration No | 104 |
| Corporate Office | Max Life Insurance Company Limited 3rd, 11th and 12th floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana – 122002. |
| Banking Partner | 1) Axis Bank 2) Lakshmi Vilas Bank 3) Yes Bank 4) Citizen Credit Co-op Bank 5) TJSB Sahakari Bank Ltd 6) Axis Securities Ltd 7) Punjab and Maharashtra Co-op Bank Ltd 8) Bassein Catholic Cooperative Bank Ltd |
| Best products | 1) Max Life Future Genius Education Plan 2) Max Life Guaranteed Lifetime Income Plan 3) Max Life Guaranteed Income Plan 4) Max Life Assured Wealth Plan 5) Max Life Group Gratuity Premier Plan 6) Max Life Smart Term Plan |
Awards & Recognitions |
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| Social Media Links | Twitter : twitter.com/MaxLifeIns Facebook : facebook.com/maxlife Instagram : Instagram.com/max_life_insurance You Tube : youtube.com/user/maxlife |
| Group Companies | 1) Max India Limited 2) Max Healthcare Ltd 3) Max Bupa Health Insurance 4) Max Specialty Films |
OPERATIONS OF MAX LIFE
Max Life Insurance has a vision to be the most admired life insurance company by securing the financial future of its customers.
Max Life offers comprehensive protection and long-term savings, through its high-quality multi-channel distribution including agency and third distribution partners.
A financially stable company with a strong track record over 20 years, Max Life offers superior investment expertise. The company has a strong customer-centric approach focused on need-based sales and quality service delivered through its superior human capital.
During the financial year 2019-20, Max Life achieved ‘Gross Written Premium’ of Rs. 14,575 crore and had sum assured in force of Rs. 9,13,660 Crore. As on 31st March 2020 the company had 68,471 Crore of AUM. The company has more than 35 lakh customers serviced by its 12,082+ employees and 48,522+ agent advisors through 239 offices across the country.
MAX FINANCIAL SERVICES
Max Financial Services Limited (MFS), a part of Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.
The company Services owns and actively manages a majority stake in Max Life Insurance Company, making it India’s first listed company focused exclusively on life insurance.
Max Financial Services Limited is listed on the Bombay Stock Exchange as well as the National Stock Exchange. The company’s investor base includes marquee global financial institutions such as KKR, Baron, Ward Ferry, New York Life, Vanguard, Blackrock, Jupiter, Norges, Neuberger, Burman, Eastspring and Dimension.
MAX GROUP
Max Group is a leading multi-business conglomerate with interests in the Life Insurance, Healthcare, Hospitality, Senior Care and Real Estate industries, headquartered in New Delhi, India.
The Group was founded in 1985 by Analjit Singh. In FY2019, the group recorded consolidated revenue of Rs. 24,134 Crore. It currently has a total customer base of 9 million, around 340 offices spread across India, an agency strength of 46,000 and employee strength of more than 27,000.
The Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries.
MITSUI SUMITOMO INSURANCE COMPANY
Mitsui Sumitomo Insurance Company Limited (MSI) was formed in October 2001 through a merger between the former Mitsui Marine & Fire Insurance Company Limited (Mitsui Marine) and the former Sumitomo Marine & Fire Insurance Company Ltd (Sumitomo Marine).
In April 2008, the entire group transitioned to a holding company structure for the purpose of engaging in more advanced business diversification. In April 2010, the Mitsui Sumitomo Insurance Group, Aioi Insurance Company Ltd and Nissay Dowa General Insurance Company Ltd merged to form the MS & AD insurance group.
AIM OF MITSUI SUMITOMO INSURANCE
The MS & AD Insurance Group aims to be a world-leading insurance and financial services group that consistently pursues sustainable growth and enhances value in its global operations.
The MS & AD group will create shared value and aim toward a resilient and sustainable society through corporate activities that contribute to resolve social issues to realize their corporate philosophy.
SERVICES OF MAX LIFE
In this pandemic Convid-19, as per the guidelines from the Indian Government, the company provide the death claims and assured to their customer about the insurance coverage for this uncertain situation. Also, the company introduces an insurance for the people to protect from the Covid-19.
The company provide financial assistance for healthcare expenses incurred by the policyholder from the Covid-19 disease. The group provide a rider for Covid-19, one can opt it along with the normal savings or other insurance.
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