Max Financial Services approves listing of Axis Max Life via merger

India's Max Financial Services said on Tuesday it has approved the listing of its unit, Axis Max Life, by merging with the insurer. The move comes after the country's insurance regulator sought a public listing roadmap from Axis Max Life, the financial services company said. Max Financial, which holds nearly an 81% stake in Axis Max Life, said it will initiate the process for the insurer's listing once there is clarity on the law allowing such mergers.