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IFC invests $33M in Axis Max Life to expand insurance access in India, especially for women and underserved groups.
Axis Max Life Insurance, formerly Max Life Insurance, has partnered with the IFC, a World Bank Group member, to expand life insurance access in India, especially for underserved groups and women.
The IFC invested Rs 285 crore ($33 million) in long-dated subordinated instruments to strengthen Axis Max Life’s solvency and support growth.
This marks the IFC’s first investment in a licensed Indian life insurer.
The collaboration aims to boost financial inclusion, promote sustainable practices, and align with India’s goal of “Insurance for All by 2047.” The company, a joint venture between Max Financial Services and Axis Bank, reported gross written premiums of INR 33,223 crore in FY2024-25 and recently rebranded, with no impact on existing policyholders.
IFC invierte $33M en Axis Max Life para expandir el acceso al seguro en la India, especialmente para las mujeres y los grupos desatendidos.