Analjit Singh controlled Max Financial Services is in talks with Aditya Birla Group to explore possibility of merger of their life insurance businesses. If the merger takes place the new entity will jump to the position of top 3 private life insurers in the country.
These negotiations are still at an early stage and the parties are examining the regulatory contours. Recently HDFC Standard Life Insurance Co. Ltd and Max Life Insurance Co. Ltd called off their proposed merger end July, failing to win regulatory approval for a merger that would have created an insurance giant with Rs1.1 trillion in assets.
