MAX NEW YORK LIFE PLANS CAPITAL INJECTION, MICRO COVER

Max New York Life, a joint venture between Max India and New York Life, has announced that it will be raising its capitalisation over the next two years from Rp6.17bn to Rp10bn. It also announced plans to link up with a general insurer to offer micro insurance policies. Max New York Life CEO Gary Bennett said that, despite the large number of challenges, the micro-insurance sector offered great prospects. Mr Bennett said that the semi-urban and rural sectors would generate the growth in the insurance sector.