Latha Venkatesh is in conversation with Yuri Afanasiev,Resident Coordinator, UN, Naina Lal Kidwai, Chairperson of Max Financial Services, Hardeep Singh Puri, MoS, Housing & Urban Affairs, Amitabh Kant, CEO of NITI Aayog and Junaid Ahmad, Country Director-India at World Bank on what it takes to strengthen India's city systems.
In an interview to CNBC-TV18’s Shereen Bhan, Gerry Grimstone, Chairman of Standard Life from the side-lines of a conclave underway currently in New Delhi shared his bets on the Indian insurance market and the road ahead for them.
Max Life Insurance is in focus after Max Financial Services' deal with HDFC has been called off. In an interview to CNBC-TV18, Rajesh Sud, CEO & MD of Max Life Insurance spoke about Max Financial-HDFC deal call off and the latest happenings in the company.
The board of HDFC Life, one of the country's leading private sector life insurance companies, approved an initial public offering (IPO). CNBC-TV18 learns that HDFC Life may however continue to explore merger options with Max Life. Shereen Bhan spoke to the MD and CEO of HDFC Life Amitabh Chaudhry moments after the CNBC-TV18 newsbreak was confirmed. In an interview to CNBC-TV18, Mohit Talwar, MD of Max Financial Services spoke about the same.
After ICICI Prudential received remarkable valuations, he is confident that other insurance companies will also follow suit. He expects SBI Life to also be listed very soon.
Distributors of insurance products -- HDFC Bank, Axis Bank and Yes Bank - will contribute more to the combined entity's growth, said HDFC Chairman Deepak Parekh. The merger will bring together two companies with varied strengths, said Max Life‘s Executive Chairman Analjit Singh.
Explaining the rationale behind the split, Analjit Singh said at a press conference: "Over the years, we have been told that a lot of investors are interested in parts of what we do, but not necessarily the entire piece."
Max Life valuation currently stands at Ra 16,000-17,000 crore, while the embedded value stands at Rs 5,323 crore, Rahul Khosla, MD, Max India says
In an interview to CNBC-TV18, Rahul Khosla, MD, Max India, speaking on the development, clarifies whether holding companies‘ foreign ownership would also be added into that category.
Max India founder & chairman Analjit Singh said paperwork is in process and Bupa will be stepping up in Max Bupa from 26 to 49 percent.
Offline retailers such as Lifestyle International and Shoppers Stop are beefing up their e-commerce plans to take on stiff competition from online retailers.
In an interview to CNBC-TV18, Nidhesh Jain, analyst at Espirito Santo shares his perspective on Bupa raising its stake in Max Bupa and how it affects the companies involved hereon.
Deputy managing director Mohit Talwar of Max India said that profits for the life insurance business have increased 8 times and AUMs has increased 20% for the same business. Talwar expects Rs 516 crore from the Max Healthcare stake sale. He also stated that the liquidity position of Max group is very healthy.
Max India has entered into a deal to sell 26% stake in a subsidiary, Max Healthcare Institute, for Rs 516.5 crore to a South African company. Rahul Khosla, managing director of Max India says the deal serves for both strategic partnership and brings very attractive financial valuations as well.