KKR buys 9.95% stake in Max Financial Services

Global investment firm KKR has acquired an approximate 9.95 per cent stake in Max Financial Services, the newly demerged entity of the Max Group that owns an approximate 72 per cent stake in Max Life, which is India’s fourth-largest private life insurance player, for an undisclosed sum.

KKR acquired its stake from a sponsor group led by Analjit Singh, chairman emeritus of the Max Group. The investment was made from its Asian Fund II through the portfolio investment route, KKR said, adding that JM Financial executed this trade on behalf of both parties.

The partnership between KKR and Max Financial Services comes as the Indian life insurance sector steadily recovers from a recent slowdown and is poised for robust growth. Life insurance as a product category is significantly under-penetrated in India versus some of its Asian peers.

India’s increasing workforce, a rise in the country’s median age and favourable savings trends are all expected to drive insurance growth.

Narendra Modi or Rahul Gandhi? Who will win the battle royale of the Lok Sabha Elections 2019


Get real-time news updates, views and analysis on Lok Sabha Elections 2019 on Deccanherald.com/news/lok-sabha-elections-2019 


Like us on Facebook or follow us on Twitter and Instagram with #DHPoliticalTheatre for live updates on the Indian general elections 2019.

Comments (+)