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Saturday, February 12, 2011

Max India expects to turn profit on consol basis in FY11

NEW DELHI: Insurer and hospital operator Max India Ltd expects to be in the black in 2010/11 on a consolidated basis as its life insurance business turns around, a top executive said on Friday. A combination of change in product mix, volume and cost rationalisation had made the life insurance business profitable in Oct-Dec, Mohit Talwar, Director-Corporate Development, told Reuters by telephone.

He said Jan-March performance should be good enough to wipe out the company's losses during nine-month period ending Dec 2010.
Max India, which gets about 85 per cent of its revenue from life insurance business, has a 74:26 joint venture with New York Life International.

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