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Axis Max Life anticipates a smooth merger with Max Financial Services, pending parliamentary approval of the insurance bill. The amendment to the Insurance Act will explicitly permit mergers between insurance and non-insurance entities, addressing a current legal ambiguity. Regulatory clearance, following the NCLT-led process, is expected to take 8 to 12 months after the bill's enactment.
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Life insurers in India experienced a significant surge in premium income. The premium income rose by 22.4% in July 2025, reaching 38,958 crore. Both private and state-run Life Insurance Corporation contributed to this growth. Individual single premiums and non-single premiums also saw increases. The industry added a substantial number of new agents.
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Bank credit growth has slowed to 1.4% in FY26 so far, compared to 2.3% last year, while deposit growth remains steady at 3.4%. Corporate credit demand is lower as companies explore market instruments. Despite rate cuts, housing loan demand hasn't surged as expected, but overall financial resources to the commercial sector have increased.
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News and Media
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