Max Financial

May 12 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX FINANCIAL SERVICES LTD MARCH-QUARTER CONSOL NET LOSS 263.5 MILLION RUPEES

• MAX FINANCIAL SERVICES MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 108.02 BILLION RUPEES

Source text: ID:nBSErrJ0

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March 12 (Reuters) - Max Financial Services Ltd MAXI.NS:

• APPROVES FUND RAISING VIA EQUITY SHARES UP TO 20 BILLION RUPEES

• RAISING OF FUNDS VIA QIP OR ANY OTHER METHOD

Source text: ID:nBSE5XqygQ

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March 6 (Reuters) - Axis Bank Ltd AXBK.NS:

• AXIS ENTITIES PROVIDED IN-PRINCIPLE NO OBJECTION TO MERGER OF MAX FINANCIAL, AMLI

Source text: ID:nBSE5GfmX6

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Feb 11 (Reuters) - Max Financial Services Ltd MAXI.NS:

• DEC-QUARTER CONSOL NET PROFIT 365.6 MILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 142.59 BILLION RUPEES

Source text: ID:nBSE3X9DXZ

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** Max Financial Services MAXI.NS rises as much as 4.41% to record high of 1,707.6 rupees

** Life insurance firm posts drop in Q2 profit; analysts see growth in value of new business (VNB) as positive

** VNB is current value of expected future profits from all policies sold in a specific period

** Jefferies says better product mix, positive yield curve moves lifted profit margins; names co as its top insurance pick

** Motilal Oswal says co maintains better-than-industry APE growth trajectory

** Attributes strong expansion of VNB margin to rise in contribution of protection, non-par and annuity businesses

** Stock rated "buy" on avg; median PT is 1,800 rupees, per data compiled by LSEG

** MAXI gains 47% YTD

(Reporting by Bharath Rajeswaran in Bengaluru)

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MUMBAI, Sept 22 (Reuters) - India's Axis Max Life Insurance accepted bids worth 8 billion rupees ($90.60 million) for subordinated bonds maturing in 10 years, three bankers said on Monday.

It will pay a coupon of 7.95% and had invited commitment bids for the issue earlier in the day, they said.

The issue will have a call option at the end of the fifth year.

The insurance company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on September 22:

* Size includes base plus greenshoe for some issues

($1 = 88.2970 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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MUMBAI, Sept 19 (Reuters) - India's Axis Max Life Insurance plans to raise 8 billion rupees ($90.79 million) through the sale of subordinated bonds maturing in 10 years, three bankers said on Friday.

The insurer has invited coupon and commitment bids from bankers and investors for the issue on Monday, they said.

The issue will have a call option at the end of the fifth year.

The insurance company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on September 19

*Size includes base plus greenshoe for some issues

($1 = 88.1138 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

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Sept 5 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX FINANCIAL SERVICES - TAX CUT IMPACT ON AXIS MAX LIFE EXPECTED TO BE LESS THAN 1%

• MAX FINANCIAL SERVICES - CHANGE EXPECTED TO IMPROVE AFFORDABILITY

Source text: ID:nBSE74YGm6

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** Shares of Max Financial Services MAXI.NS set to snap seven straight weeks of gains with around 3% drop

** On Wednesday after close, insurer reported cyber threat at its unit, said detailed investigation is underway

** Stock fell around 3% in last two sessions; last trading nearly 2% lower at 1,590 rupees

** Avg rating from 21 analysts is "buy"; median PT is 1,530 rupees - data compiled by LSEG

** YTD, stock up nearly 43%

(Reporting by Hritam Mukherjee in Bengaluru)

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Adds details, background from paragraph 2 onwards

July 2 (Reuters) - India's Max Financial Services MAXI.NS said on Wednesday that its unit, Axis Max Life Insurance, received communication about unauthorized access to some customer data from an anonymous sender.

The company has initiated a security assessment and data log analysis, Max Financial said.

"A detailed investigation is also underway in consultation with information security experts to assess the root cause of the incident and take remedial action, as necessary" the company said in a statement.

Axis Max Life Insurance is a joint venture between private lender Axis Bank AXBK.NS and Max Financial.

Indian firms such as Angel One ANGO.NS, Niva Bupa Health Insurance NIVA.NS and Star Health STAU.NS and HDFC Life Insurance HDFL.NS have reported high-profile security breaches in the past 10 months.

The incidents prompted the country's insurance regulator to direct industry-wide audits of IT systems.

Cyber fraud cases in India jumped more than four times in fiscal 2024, causing losses of $20 million, Reuters reported earlier this year.

Internal government data as of April 2024 showed that individuals lost nearly $1.26 billion to cyber fraud at financial institutions since 2021.

(Reporting by Manvi Pant; Editing by Shreya Biswas and Tasim Zahid)

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** Shares of life insurer Max Financial Services MAXI.NS rise 1.1% to a record high of 1,594.6 rupees apiece

** MAXI on course for third straight session of gains, rising about 5% in the period

** Citi initiates coverage of MAXI at "buy" and sets a target price of 1840 rupees, implying an upside of 21% at Monday's close

** Balanced product mix, diversified distribution channels, execution, and growth stability at Axis Bank augur well for MAXI's earnings, says Citi

** MAXI shares rose 3.34% on Monday, after another global brokerage Jefferies raises target price

** Axis-Max Life is a joint venture between MAXI and Axis Bank AXBK.NS

** MAXI shares up 42% in 2025 so far, outperforming the 3% rise in Nifty midcap 100 index .NIFMDCP100, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 10 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX FINANCIAL SERVICES - ELEVATION OF SUMIT MADAN TO MD & CHIEF EXECUTIVE OFFICER OF AXIS MAX LIFE

Source text: ID:nBSE2VQDsN

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April 15 (Reuters) - Max Financial Services Ltd MAXI.NS:

• NISHANT KUMAR GEHLAWAT APPOINTED AS CFO EFFECTIVE MAY 1

• AMRIT PAL SINGH CEASES AS CFO

Source text: ID:nBSE681n3q

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MUMBAI, Feb 17 (Reuters) - India's Axis Max Life Insurance has accepted bids worth 5 billion rupees ($57.62 million) for subordinated bonds maturing in 10 years, three bankers said on Monday.

The insurer will pay an annual coupon of 8.34% on this issue and had invited bids from bankers and investors earlier in the day, they said.

The issue will have a call option at end of fifth year.

The insurance company did not immediately reply to a Reuters email.

Here is the list of deals reported so far on February 17:

*Size includes base plus greenshoe for some issues

($1 = 86.7680 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

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MUMBAI, Feb 13 (Reuters) - India's Axis Max Life Insurance plans to raise 5 billion rupees ($57.6 million) through the sale of subordinated bonds maturing in 10 years, three bankers said on Thursday.

The insurer will invite bids from bankers and investors for the issue in the upcoming week, they said.

The issue will have a call option at end of fifth year.

The insurance company did not immediately reply to a Reuters email.

Here is the list of deals reported so far on February 13:

*Size includes base plus greenshoe for some issues

($1 = 86.8560 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Savio D'Souza)

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Feb 4 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX FINANCIAL SERVICES - APPROVED LISTING ROADMAP WHICH ENVISAGES LISTING OF AXIS MAX LIFE THROUGH MERGER OF MFSL INTO AXIS MAX LIFE

• MAX FINANCIAL SERVICES - WILL INITIATE PROCESS FOR LISTING OF AXIS MAX LIFE ON CLARITY ON APPLICABLE LAW ALLOWING SUCH MERGER

Source text: ID:nBSE2KGgcZ

Further company coverage: MAXI.NS

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** Shares of Max Financial Services Ltd MAXI.NS climb 2.5% to 1,171.25 rupees

** MAXI, the holding company of private insurer Max Life, is likely to benefit from a string of regulatory changes, Jefferies says in a note

** Proposal to exempt term protection policies from taxes can improve affordability and improve coverage, helping MAXI

** Another proposal to allow insurers to merge with non-insurers can help Max Life list directly by merging with MAXI and reduce 20-50% valuation discount to peers

** Jefferies has "buy" rating on stock, 1,114.15 rupees TP

** Analysts tracking MAXI rate stock "buy" on avg, same as other life insurers - LSEG data

** MAXI up 22% so far this year, outperforming financial stocks' .NIFTYFIN 14.4% rise

(Reporting by Nandan Mandayam in Bengaluru)

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** Life insurers HDFC Life HDFL.NS and Max Financial MAXI.NS fall ~2.5% each, SBI Life SBIL.NS sheds 1.5%

** Macquarie maintains it is negative on India's life insurance sector owing to regulations, weak margin outlook

** Investec says regulatory overhang persists for the sector

** Last week, CNBC-TV18 reported India's insurance regulator could ask insurers to reduce banca channel share to 50% of annual premium equivalent

** HDFL, SBIL and MAXI clarified they haven't received any such communication from the regulator

** Investec and Macquarie do not discard possibility of regulations on the banca front

** Say SBIL, HDFL could be worst hit in case of some regulations due to higher banca share

** Bernstein and Morgan Stanley say such regulations could prove detrimental to sector's growth

** Since the CNBC report, SBIL, HDFL, MAXI down ~6% each in three sessions - LSEG

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 28 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX LIFE INSURANCE HAS NOT RECEIVED ANY IRDAI DIRECTIVE ON BANCASSURANCE CAPPING

Source text: ID:nBSE3RBSTz

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** Shares of Max Financial Services Ltd MAXI.NS soar 11% to a record 1298.60 rupees

** MAXI last up 9% and set for best day since Aug 2020, with trading vol nearly 7x the 30-day avg

** Life insurer's value of new business grew 23% in Q2, while margins came in at 23.6%, which Investec says beat estimates

** Analysts tracking MAXI rate it "buy" on avg, same as other private life insurers - LSEG data

** Stock extends YTD gains to ~34%, less than ICICI Prudential Life's ICIR.NS 40% jump but more than HDFC Life Insurance's HDFL.NS 12% rise

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Max Financial Services MAXI.NS lose 4.6% to 992.15 rupees apiece

** Company said after results on Tuesday, higher surrender charges will likely pull VNB margins down by 100bps-200bps in fiscal year 2025

** The recent regulatory changes on life insurance products will hurt companies' margins, according to analysts

** Nuvama Institutional Equities and Motilal Oswal Financial Services say company's change in product mix will lead to pressure on margins in the near term; trim margin estimates for FY2025 and FY2026

** Shares of Max Financial up 4.1% in 2024 so far, compared with 24% rise in mid-cap 100 index .NIFMDCP100 of which it is a constituent

** The average rating of the 17 analysts tracking MAXI is "buy"; median price target is 1,227.50 rupees - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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BENGALURU, June 19 (Reuters) - India's Axis Bank AXBK.NS acquired additional equity shares of Max Life Insurance Company, a unit of Max Financial Services MAXI.NS, for 3.36 billion rupees ($4.32 million), the private lender said on Wednesday.

The bank's board of directors approved the proposal to acquire Max Life shares, raising Axis entities' total holding in the insurance firm to 19.99% from 19.02%.

Axis entities include the bank as well as investment solutions provider Axis Securities and financial services provider Axis Capital.

Shares of the bank, India's fifth largest by market capitalisation, jumped as much as 2.2% after the news. The stock was among the top gainers on the Nifty 50 index .NSEI.

Axis entities' had raised their holding in Max Life to 19.02% from 12.99% earlier in April, originally acquiring a stake in the company in 2020.

Max Financial Services, Max Life Insurance's holding company, engages in investment business and provides management advisory services.

($1 = 83.4125 Indian rupees)

(Reporting by Dimpal Gulwani; Editing by Janane Venkatraman )

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** Shares of Max Financial Services MAXI.NS up 2.2% at 990.90 rupees

** While MAXI, engaged in life insurance and investment advisory services, reported a Q4 loss vs profit year ago, analysts were optimistic on co's value of new business (VNB)

** MAXI's 7% VNB rise and 13% new premium growth beat estimates and were higher than peers, while margins were in line with guidance - Jefferies

** Brokerage maintains "buy" on stock, which is among its top picks

** Margin expanded on sequential basis due to seasonality as well traction for certain margin-enhancing products, Yes Securities says

** Stock set to snap three-session losing streak

** MAXI up ~4% YTD after gaining ~41% in 2023

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Max Financial Services MAXI.NS rise 3.5% to 967.95 rupees

** Jefferies says Max Life Insurance, 81%-owned by MAXI, will benefit from Axis Bank AXBK.NS fund infusion

** On Feb. 6, India's insurance regulator approved capital infusion of 16.12 bln rupees (~ $194 mln) by Axis Bank into Max Life

** Since then, MAXI's shares have gained ~6%, with five analysts upgrading stock - LSEG data

** Jefferies expects Max Life to deliver high-teens growth in premiums over next 2-3 years, says valuations are attractive compared to peers

** Reiterates "buy" with PT 1,200 rupees for MAXI, 30% upside to last close

** Mean rating of 15 analysts tracking MAXI equivalent to "buy"; median PT 1,127.50 rupees, 16.5% above current price - LSEG

($1 = 82.9130 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Max Financial Services MAXI.NS rise as much as 5.1% to 959.8 rupees in early trading; stock has since pared gains, now up 2.2%

** Co said that Insurance Regulatory and Development Authority has approved capital infusion of 16.12 bln rupees($194.2 million) by Axis Bank

** Separately, co also reported a near 34% fall in consolidated net profit for the Dec qtr; total rev from ops rose 39%

** Average rating of 15 analysts equivalent of "buy"; median PT 1,092.5 rupees - LSEG data

** More than 1.6 mln shares change hands by 9:45 a.m. IST, 1.9x the 30-day avg

** Shares of Axis Bank up 1.7%

($1 = 83.0200 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Feb 6 (Reuters) - Max Financial Services Ltd MAXI.NS:

• MAX FINANCIAL SERVICES DEC-QUARTER CONSOL NET PROFIT 1.49 BILLION RUPEES VERSUS PROFIT 2.25 BILLION RUPEES

• MAX FINANCIAL SERVICES DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 123.56 BILLION RUPEES VERSUS 88.96 BILLION RUPEES

Source text for Eikon: ID:nBSE3g40QK

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** Shares of Max Financial Services MAXI.NS are up 3.9% at 1006.85 rupees, hitting their level since Jan, 2022

** Investec re-iterates Max Finanical as top pick in insurance sector after Axis Bank's AXBK.NS interest to drive growth in MAXI's insurance unit Max Life

** Axis Bank will look to increase its stake to 20% in Max
Life, analysts at Investec said after attending AXBK's analyst meet

** In Aug, Axis Bank had said it would raise its stake in Max Life to 16.2% from 9.99%

** Investec says, Max Life trades at substantial discount to peers, despite reporting consistent performance over past 10 years

** MAXI on track for best day since Aug. 10

** YTD stock up ~48.4%, outperforming peers; HDFC Life Insurance CoHDFL.NS up ~19%, SBI Life Insurance Co SBIL.NS ~13.4%, ICICI Prudential Life Insurance ICIR.NS up ~22.5%

(Reporitng by Nishit Navin in Bengaluru)

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Sept 6 (Reuters) - Axis Bank Ltd AXBK.NS:

• INDIA AXIS BANK EXEC: FOCUS ON GROWING CASA DEPOSITS CURRENTLY

• INDIA AXIS BANK EXEC: SPECULATIVE TO SAY REGULATORS HAVE CONCERN ON AXIS BANK-MAX LIFE DEAL

• INDIA AXIS BANK EXEC: HAVE NOT GONE TO REGULATORS WITH ANY FRESH APPLICATION REGARDING DEAL WITH MAX LIFE

• AXIS BANK EXEC: HAVE RECEIVED PERMISSION FROM RBI TO INFUSE CAPITAL IN SOME OF BANK’S SUBSIDIARIES

Source text for Eikon: [ID:]

Further company coverage: AXBK.NS

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Aug 31 (Reuters) -

• SEBI IN ADVANCED STAGE OF INVESTIGATION IN AXIS-MAX DEAL- CNBC-TV 18

Source text : [https://bit.ly/3sDqlLu]

Further company coverage: AXBK.NS

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** Shares of Max Financial Services MAXI.NS surge 12.3%, biggest pct gain since Aug. 25, 2020

** Co on Wednesday reported 55.6% surge in June-quarter net profit

** Co says that it expects to clock double-digit growth rate in fiscal 2024

** Separately, Axis Bank said on Wednesday it will raise its stake in insurer Max Life to 16.2% from 9.99% through a preferential allotment of shares

** Max Financial will hold about 80.98% in Max Life after the stake add

** More than 9.5 mln shares of MAXI change hands by 1:40 p.m. IST, highest since Dec. 21, 2022

** Stock up ~29% YTD

($1 = 82.8175 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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