Max Financial Services Limited
Max Financial Services Limited (MFS), a part of the Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company. Max Group is an Indian conglomerate headquartered in New Delhi, India. It was founded in 1985 by Analjit Singh. The Company’s vision is to be the most admired company for protecting and enhancing the financial future of its customers. This vision is founded on a clear set of values that are shared across the Group – Sevabhav, Excellence and Credibility.
Max Financial Services owns and actively manages a majority stake in Max Life Insurance Company Limited, making it India’s first listed company focused exclusively on life insurance. Max Life is a joint venture with Mitsui Sumitomo Insurance (MSI), a Japan-headquartered global leader in life insurance. The other entities in the Max Group are Max India Limited, which has a presence in the senior living and healthcare industry, and Max Ventures and Industries Limited, which serves as the Group’s entrepreneurial arm to explore the wider world of business.
Max India Foundation (MIF) represents the Max Group’s Corporate Social Responsibility aspirations. The Foundation’s work is focussed on healthcare for the underprivileged, covering the following areas: Preventive health through pan India immunization, health check camps, screening including for cancer, spreading health awareness through talks, films, counselling sessions and specific events, setting up permanent Health Centres where there is no facility available. These provide free consultation and medicine, facilitating surgery and treatment for the very needy; palliative care for cancer patients and support to treat childhood cancers, providing free artificial limbs at camps and specialized institutions, Health Training including training to Traditional Birth Attendants, General Duty Attendants for hospitals and First Aid in schools and Spreading awareness and working for an eco-friendly environment.
Max India Foundation works on the model of engaging Max employees in CSR and has over 400 NGO partners. It is a manifestation of the Group philosophy of Sevabhav touching over 1.7 million lives with compassion and care.
MFSL is contributing to a sustainable nation by efforts in Energy Reduction, Waste Management, Water Management, Digitization efforts and maintaining the highest standards of governance and conduct. MFSL, has implemented sustainable practices within the offices to ensure a reduction of 23% in paper usage, 36% garbage, and 50% food wastage. Other initiatives undertaken include usage of 100% recycled water at the Head Office, monitoring of food wastage and placement of indoor plants that has helped forward the environmental commitment of the organisation.
Their shareholding pattern consists of Promoters and Promoter Group having 14.72% of shares, Public having 8.23% shares, followed by FII’s having 26.33% shares and DII’s with 50.72% shares.
