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Behind the scenes: The making of India's largest private insurer

Max Life was busy scouting for insurers it could buy. Then, HDFC Life happened

Joydeep Ghosh M Saraswathy & Sudipto Dey  |  Mumbai 

Almost a year ago, Delhi-based Max Life had asked a leading global investment bank to scout for a life insurance company that it could buy to bolster its portfolio. For a company that has been doing rather well, buying another firm seemed to be the natural way to grow.

A year later, however, Max Life decided it would merge with HDFC Life in 12 months, creating India’s largest private sector insurance company worth about Rs 65,000 crore. However, even while it was considering mergers and acquisitions, the Max Group did not rule out strategic alignments. In January, Max India decided on ...

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First Published: Wed, August 10 2016. 00:56 IST