Finance Axis Bank to acquire 29% stake in Max Life Insurance for around Rs 1600 crore Updated : April 28, 2020 08:18 PM IST Axis Bank is set to acquire 29 percent stake in Max Life Insurance Co. on Tuesday. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.