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In February 2004, the company formed a healthcare unit providing professional liability insurance. [4] In June 2015, AXIS and PartnerRe Ltd started a public campaign to convince shareholders of the positive aspects of a potential $13 billion merger between the two companies, with competition seen from Exor SpA, which bid $6.8 billion. [9]
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Novae Group Ltd was an insurance underwriting company headquartered in London. John Hastings-Bass was the company's chairman. Novae Group was founded in 1986 as SVB Holdings plc and changed its name to Novae Group plc in 2006, then to Novae Group Ltd in 2018. [1] In July 2017, the company was acquired by AXIS Capital for $604 million. [2]
The company tied up with State Bank of India in 2006, [8] Punjab National Bank in 2007 [8] and Axis Bank in 2013 [9] to offer online trading to its customers. In January 2010, the company set up a mutual fund business named as Motilal Oswal Asset Management Company (MOAMC). [10]
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Axis Direct provides a 3-in-1 Online Investment Account [2] which is a combination of Axis Bank Savings along with an Axis Direct trading and Demat account services: Equities – Invest online in stocks of listed companies; Mutual Funds – Invest in mutual funds including equity, hybrid, tax saving or debt schemes from asset management companies
The former owned 68% of the company while the latter owned 26%. [3] After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016, Axis Bank held a 6% share in Max Life. [4] On the 13th of December 2024, Max Life Insurance rebranded itself to Axis Max Life Insurance. [5]