In the wake of Insurance Regulatory and Development Authority of India's (IRDA) reservation about the deal structure in the proposed merger of Max Life Insurance Company with HDFC Life, a new structure is likely to be submitted soon, IRDA officials said.
"They (Max Life and HDFC Life) will submit a new revised structure of merger deal after we expressed reservations on the structure they had submitted," IRDA officials told PTI declining to be quoted.
