Max India, BUPA to set up health insurance co in India
India’s leading healthcare services provider Max India Ltd said it has partnered with UK’s BUPA Finance Plc for setting up a health insurance company in India. Max India, which operates hospitals and a life insurance business, would hold 50 stake in the joint venture, the Delhi-based company said in a statement. Of the remaining stake, British United Provident Association or BUPA would hold 26 percent and Max India chairman Analjit Singh would hold 24 percent. Presently, Indian laws do not allow foreign firms to hold more than 26 percent stake in any joint venture in the insurance sector. The venture would commence business operations by September 2009 with an initial investment of
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