Allen Forlemu, Interim Regional Vice President, Asia Pacific, International Finance Corporation, said: “ Our partnership with Axis Max Life for our first investment in the life insurance space in India allows us to contribute to a more resilient future for all. Moreover, our partnership will strengthen India’s life insurance industry by building confidence in capital instruments, attracting institutional and foreign investments, and creating jobs across the value chain.”
New Delhi: International Finance Corporation (IFC) has made an investment of Rs 285 crore ($33 million) through long-dated subordinated instruments to support Axis Max Life ’s solvency margin and power its expansion in the life insurance sector.
This marks IFC’s maiden investment in a licensed life insurance company in India.
IFC’s strategic partnership with Axis Max Life intends to make accessible to underserved communities, especially women. It will also strengthen the life insurer’s long-term growth and introduce global best practices in governance, sustainability, and inclusive business standards.
Allen Forlemu, Interim Regional Vice President, Asia Pacific, International Finance Corporation, said: “ Our partnership with Axis Max Life for our first investment in the life insurance space in India allows us to contribute to a more resilient future for all. Moreover, our partnership will strengthen India’s life insurance industry by building confidence in capital instruments, attracting institutional and foreign investments, and creating jobs across the value chain.”
Sumit Madan, MD and CEO, Axis Max Life Insurance, said: “This partnership with IFC is a milestone moment for us. Beyond capital infusion, IFC brings with it deep global expertise in governance and sustainable business practices. Together, we aim to enhance financial inclusion in India by expanding access to life insurance solutions, with a special focus on women and increasing insurance penetration in the country. This collaboration reinforces our commitment to building a stronger, more responsible, and more inclusive organization.”