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Airtel Payments Bank to sell Insurance, MF products
23-Feb-2017 (17:33)
Insurance regulator IRDAI to form actuary panels for life, general insurers
21-Feb-2017 (09:35)
HDFC Life-Max Life merger is a structural change: says Keki Mistry
20-Feb-2017 (16:29)

Mortgage lender HDFC on Monday said it has informed insurance regulator Irdai that the proposed merger of Max Life Insurance Company with HDFC Life is structural in nature.

Irdai had expressed reservations about the deal structure in the proposed merger of the two entities. An application was filed on September 21, 2016, by Max Life and HDFC Life, seeking in-principle nod for the amalgamation scheme.

"The structure that we proposed in the transaction is that a non-listed Max Life will first get merged with Max Financial Services which is a listed entity and then the combined entity will be finally merged with HDFC Life," Keki Mistry, vice-chairman and chief executive of HDFC told reporters.

"Once the merger takes place, we will keep the non-insurance business of Max Financial Services out of the insurance venture. It is in fact a structural change rather than an actual merger," Mistry said on sidelines of a CII event.

He said "HDFC's lawyers have informed Irdai that the whole structure is fine as there is no actual merger of the two entities. Now, Irdai says it will seek the advice of the Attorney General on the issue".
Banks look for insurance as cyber threats increase
20-Feb-2017 (10:24)
Insurance penetration in India likely to cross 4% this year: ASSOCHAM
16-Feb-2017 (09:36)
HDFC life Insurance unveils its new product 'Pragati'
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Life Insurance Corporation stake In Infosys raises to 7.02%
13-Feb-2017 (09:37)
Life insurance companies new business premium up 28% in January
13-Feb-2017 (09:30)
Hemant Bhargava appointed as LIC managing director
10-Feb-2017 (17:41)
Insurance regulator IRDAI seeks legal opinion on Max-HDFC merger plan
10-Feb-2017 (13:38)
Life insurance industry start Q4 with a bang
09-Feb-2017 (09:32)
Life Insurance Corporation picks up 2% in ITC for Rs 6.7k cr from government arm
08-Feb-2017 (09:33)
Edelweiss Tokio Life Insurance awarded 'Best Life Insurer 2016'
06-Feb-2017 (16:55)
Life Insurance Corporation hikes gratuity to Rs 3 lakh to retain fleeing agents
06-Feb-2017 (14:48)
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