India, Nov. 11 -- To expand access to life insurance and drive greater financial inclusion in India, Axis Max Life Insurance Limited ("Axis Max Life" or the "Company"), formerly known as Max Life Insurance Company Limited, today announced a strategic partnership with the International Finance Corporation (IFC).

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.

The partnership intends to advance Axis Max Life's agenda to make life insurance accessible to underserved communities, especially women. It will also st...