New Delhi, Jun 1 (PTI) Private lender Axis Bank on Monday said it has raised its stake in Axis Max Life Insurance Company to 19.9 per cent.
Based on approval granted by the Acquisitions, Divestments and Merger Committee of the board of directors, Axis Bank has additionally invested in equity shares of Axis Max Life Insurance Company for an amount of up to Rs 380 crore, the lender said in a regulatory filing.
“Post this investment, the aggregate shareholding of Axis Bank and its subsidiaries – Axis Securities Ltd and Axis Capital Ltd – will thereby increase from 19.02 per cent to 19.99 per cent,” it said.
None of the promoters or promoter group of the bank has any interest in Axis Max Life Insurance Company, the lender informed the stock exchanges.
The investment is being made post receipt of necessary approval from the RBI dated March 13, 2026, it said.
The gross written premium of the insurer stood at Rs 38,877 crore at the end of FY26. PTI DP SHM
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