The Hindu Business Line : Max NY raises capital base

Max New York Life on Monday announced that it has increased its capital base by Rs 30 crore, taking it to Rs 617 crore . This has been done to support the company's expansion and to conform to the solvency margin requirements, said Mr Gary Bennett, Managing Director and CEO, Max New York Life. "Both the joint venture partners are committed to the growth of the company. Our business performance has been above expectations this year. We will continue to build on our strong foundations in distribution and deliver long-term shareholder value. The company has embarked on major geographical expansion drive and the capital infusion will further encourage and support growth," he added.

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