Max Financial Services, an Indian financial services company, disclosed that its insurance unit, Axis Max Life Insurance, received a communication from an anonymous sender claiming unauthorized access to certain customer data. The company has initiated an investigation into the alleged data breach. This incident highlights growing cybersecurity concerns within the insurance sector. Separately, regulatory developments include the Insurance Regulatory and Development Authority of India (IRDAI) raising the rural insurance obligation to 15% for fiscal years 2026 and 2027, up from 10%, impacting rural, social, and motor third-party insurance coverage. Additionally, an IRDAI-appointed panel has recommended against allowing mergers between insurers and non-insurers, a decision that may affect Max Financial’s plans, as the company was hopeful of obtaining approval for a merger between Max Financial and Max Life.