The major insurance provider of the country, Max New York Life expects to have a 15-20% increase in premium collection in the fiscal year 2010-11. Last year's sale report has been very disappointing for the firm.

The business from the premium income was also not up to the mark. However the company is anticipating having a proper 2010-11 so far as premium income is concerned. It has entered to a strategic tie up with Axis Bank. This tie up is expected to enhance sales for Max New Life. Max India is having 74% stake in the insurance company Max New Life.

The Max India will sell its 4% to Axis Bank. After the sale it will have a 70% stake in the insurance venture. Managing Director and CEO, Max India, Mr. Analjit Singh has informed that it will not be a financial investment. Rather it's a commitment from both the sides to grow this business together. On the other hand, MD & CEO of Axis Bank, Mrs. Shikha Sharma has said that Axis Bank will look forward to grow the business with the help of Max India.