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YES Bank fiasco, double-blow for Max Financial; analysts caution investors

Max Life has Rs 2,000 crore exposure to YES Bank's tier-2 bonds and the latter accounts for 11 per cent of its bancassurance channel

Hamsini Karthik 

With losses of over 12 per cent in a week, the stock of Max Financial Services, which owns 72.5 per cent in Max Life Insurance, is back to the levels when the news of Axis Bank acquiring stake in its life insurance business first surfaced. While there is still over two months left for the transaction to take shape, the recent turn of events (read: YES Bank’s fiasco) has made the deal seem important more than before.

Max Financial is tangled with YES Bank in two ways. As a direct hit to its business, YES Bank generated for about 11 per cent of its premium through the bancassurance ...

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First Published: Wed, March 11 2020. 19:30 IST
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