Motilal Oswal has come out with its fourth quarter (January-March’ 19) earnings estimates for the Life Insurance sector. The brokerage house expects HDFC Standard Life to report net profit at Rs. 404.4 crore up 16.6% year-on-year (up 64.6% quarter-on-quarter).
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Private sector lender Axis Bank, Max Financial Services and its subsidiary Max Life Insurance have entered into an arrangement to explore a long-term strategic partnership.
The entities have not mentioned the nature of this transaction. But a company source said that the deal with be to enable Axis Bank get a ‘promoter’ tag in the company by increasing its stake from the present 2 percent to as high as 20 percent.