Max Life Insurance eyeing to sell 5 percent in life insurance Joint Venture with Mitsui
Insurance and healthcare major Max India may divest around 5% in its life insurance joint venture with Mitsui Sumitomo Insurance – Â Max Life Insurance – to long-term foreign financial investors if parliament approves the proposed hike in insurance FDI cap to 49%.
Unlike many other insurance joint ventures in India where foreign partners have the right to increase their stakes at a pre-determined  price, Max India has not made any such commitment to its new partner Mitsui Sumitomo Insurance of Japan. Mitsui became a partner  in Max Life Insurance in April this year, buying out the stake of US-based New York Life Insurance. Read more