<h1>Competition approval for acquisition of minority stakes in a life insurer permits Axis entities to increase shareholding and distribution presence.</h1> The Competition Commission granted approval for Axis Bank to raise its stake in Max Life Insurance to approximately 9.9%, and for Axis Capital and Axis Securities to acquire around 2% and 1% respectively, noting the parties' respective businesses in banking, investment banking, broking and life insurance; a detailed CCI order will follow.