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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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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]
Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in the United States by 1989.
If the patient in the previous example had a $5.00 copay, the physician would be paid $45.00 by the insurance company. The physician is then responsible for collecting the out-of-pocket expense from the patient. If the patient had a $500.00 deductible, the contracted amount of $50.00 would not be paid by the insurance company.
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. [8] It is India's third largest private sector bank by assets and fourth largest by market capitalisation.
Customer service is the assistance and advice provided by a company through phone, online chat, mail, and e-mail to those who buy or use its products or services. Each industry requires different levels of customer service, [ 1 ] but towards the end, the idea of a well-performed service is that of increasing revenues.