Max India expects to turn profit on consol basis in FY11

NEW DELHI: Insurer and hospital operator expects to be in the black in 2010/11 on a consolidated basis as its life insurance business turns around, a top executive said on Friday.

A combination of change in product mix, volume and cost rationalisation had made the life insurance business profitable in Oct-Dec, Mohit Talwar, Director-Corporate Development, told Reuters by telephone.

He said Jan-March performance should be good enough to wipe out the company's losses during nine-month period ending Dec 2010.

Max India, which gets about 85 per cent of its revenue from life insurance business, has a 74:26 joint venture with New York Life International.