Max Life establishes presence in the United Arab Emirates (UAE)

PR Newswire

The representative office will offer faster, more efficient services to its customers based in the GCC region

DUBAI, UAE, Jan. 12, 2024 /PRNewswire/ -- Max Life Insurance Company Ltd. ("Max Life"/"Company") expands its presence in the Middle East with the opening of its first representative office in Dubai, United Arab Emirates (UAE). The office will assess opportunities to fulfill the emergent needs of its customer base in the UAE.

The new onshore office strengthens Max Life's presence in the Gulf Cooperation Council (GCC) zone and helps cater to the servicing needs of the region's customer segment. With this presence, Max Life aims to provide the same level of compassion, affinity, and customer delight to their customers based in the UAE, at par with the Indian market.

Prashant Tripathy, CEO and Managing Director, Max Life said,"We are very excited to open our first representative office in the Middle East and are confident that this will enhance life insurance awareness for our customers in alignment with their financial and protection needs. With our presence in Dubai, we are not only extending our reach to the Gulf region and enhancing our brand awareness, but also bridging the geographical gap to ensure that our NRI customers experience a seamless approach in meeting their life goals."

As a brand of choice, Max Life has consistently established a strong market presence since its inception. Max Life has grown at a 5-year Compound Annual Growth Rate (CAGR) of 13% on Individual New Business. The Company's Asset under Management (AUM) stands at Rs. 1.23 lac crore and have grown at a CAGR of 19% over the last five years*. In a business of trust, Max Life prioritizes prompt and hassle-free settlement of death claims, as exemplified by a Claims Paid ratio of 99.51% in FY23.