HDFC Standard Life Insurance on Sunday said the due diligence process is almost completed for proposed creation of largest private sector life insurer.
It also said that as part of proposed arrangement, efforts will be made to avoid any job loss in both Max Life Insurance and Max Financial Services.
Last month, the Board of HDFC Standard Life Insurance, Max Life Insurance and Max Financial Services approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a merger of Max Life Insurance and Max Financial Services into HDFC Life by way of a scheme of arrangement.
