LIC wants Axis Bank to sell its insurance policies

Life Insurance Corporation, often accused of being a passive investor , is beginning to exploit its ownership to expand its own business which is becoming intensely competitive. And the target is Axis BankBSE -0.33 %. The state-run insurer, which owns about 15% in the lender, is nudging the bank to sell insurance policies offered by it through its more than 2,500 branches, testing its existing partnership with Max Life, a top performing private insurer, said two people familiar with the  ..