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HDFC Life and Max Life likely to form India's biggest private life insurer

India Blooms News Service | | Jun 17, 2016, at 07:04 pm

# HDFC Life #Max Life

Mumbai, Jun 17 (IBNS): Board of Director of HDFC Life, one of the leading life insurance companies in India and Max Life, a leading non-bank promoted life insurer, and Max Financial Services, following their respective board meetings announced on Friday that they have approved entering into a confidentiality, exclusivity and standstill agreement to evaluate potential combination through a merger of Max Life and Max Financial Services into HDFC Life by way of a scheme of arrangement.

The agreement provides for a mutually exclusivity period for due diligence and discussions between the parties in relation to the proposed transaction.

If the transaction is successful, then it will create India's biggest private life insurer, media reported.

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