Max Life Insurance, one of the leading life insurers in India, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a part of the Max group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance group, which is amongst the leading insurers in the world. Max Life Insurance has a vision to be the most admired life insurance company by securing the financial future of its customers. Max Life Insurance offers comprehensive long-term savings, protection and retirement solutions through its high-quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 18 years, Max Life Insurance offers superior investment expertise. The company has a strong customer-centric approach focused on need-based sales and quality service delivered through its superior human capital.
During the financial year 2017-18, Max Life Insurance achieved gross written premium of Rs. 12,501 crore and had sum assured in force of Rs. 5,11,541 Crore. As on 31st March 2018, the Company had Rs. 52,237 crore of assets under management (AUM) and a share capital including reserves and surplus of Rs. 2,689 crore. The Company has more than 32 lakh customers serviced by its 10,226 employees and 54,791 agent advisors through 210 offices across the country.
Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a Joint Venture (JV) between Bank of India, Union Bank of India and Dai-ichi Life. While Dai-ichi Life is a leading life insurance company of Japan, Bank of India and Union Bank are leading Indian public-sector banks with robust nationwide networks of over 11,000 branches that cater to more than 64 million customers. Structural synergies between the parent Banks and SUD Life and the well-crafted engagement matrix which is operational, at every level, have culminated into a distinct advantage for the company.
The company offers a wide bouquet of individual and group plans that meet various needs. These include protection plans, savings plans, wealth plans, child plans, retirement plans, health plans and withdrawn products under its individual plan category. In the group plan category, SUD Life offers credit life plans, term plans and withdrawn plans.
SUD Life is committed to providing insurance products across various stratas of society and geographies as per the needs of the customer. With the select Regional Rural Banks (RRBs) that have been sponsored by Bank of India and Union Bank, SUD Life has access to more than 1,950 branches through which it makes life insurance products available in rural areas.
At SUD Life, the customer commands topmost priority. The promoters of SUD Life have a long-term commitment towards their customers and stakeholders. These strengths and values have been inherited by SUD Life, as we make our way to become the next rising star in the Indian life insurance business, promising exceptional value to all our stakeholders.
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