India: HDFC Life, Max create new structure for merger

India: HDFC Life, Max create new structure for merger

Photo: Pradeep Gaur/Mint

HDFC Life Insurance Co. Ltd and Max Life Insurance Co. Ltd have carved out a new structure for their proposed merger after the Insurance Regulatory and Development Authority of India (Irda) rejected the original three-step union, said two people with knowledge of the discussions.

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