New Delhi: Max New York Life Insurance Company mulls to invest Rs 200 crore capital in 2007-08 to sustain growth in business and expand operations in the country. Max New York Life, a 74:26 joint venture between Max India and New York Life, has a paid-up capital of Rs 732 crore at the moment. The company is likely to invest about Rs 200 crore capital in the current financial year. The first instalment of Rs 70-80 crore may come next month. Being in a capital-intensive business, Max New York Life needs to infuse capital to sustain growth in business and operations in the country. Last year, its new premium income doubled to Rs 920 crore. The company has already collected Rs 823 crore till August in the current financial year.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment