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9 in 10 from the Indian LGBTQIA+ community prioritize savings over spending to secure their financial future: Max Life’s IPQ 6.0

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Key findings

The overall financial protection score stands at 37 points, against the digitally-savvy urban Indians’ score of 54 pointsThe LGBTQIA+ community demonstrates near-universal awareness at 99%; however, life insurance ownership is at 68%, compared to 80% ownership in the digitally-savvy urban Indian cohort

NEW DELHI, May 31, 2024 /PRNewswire/ — The flagship study of Max Life Insurance Company Limited (Max Life), the India Protection Quotient Survey (IPQ), in partnership with KANTAR, has revealed insights into the financial preparedness of the LGBTQIA+ community in India from the perspective of life insurance. This pioneering initiative, conducted in partnership with Pride Circle, one of India’s premier Diversity and Inclusion Advisory firms, represents a significant step forward in understanding and addressing the specific financial needs of the diverse community.

Under the vision of ‘One India-Protection for All’, the PAN-India survey includes the LGBTQIA+ community for the first time to understand their financial preparedness. With a population estimated to be around 135 million people, or around 10% of India’s 1.4 billion population, the LGBTQIA+ community represents a significant segment whose financial preferences and challenges cannot be overlooked.1, 2

With a Protection Quotient of 37 points, the LGBTQIA+ community exhibited a 17-point difference in financial preparedness, as compared to the digitally-savvy urban Indian at 54 points. In contrast, the LGBTQIA+ community has displayed a commendable level of awareness, understanding, and proactive engagement in financial planning, with 99% individuals aware of life insurance products. Despite high awareness, ownership of life insurance in the community stands at 68%, as opposed to 80% ownership in the digital cohort.

Prashant Tripathy, CEO and Managing Director, Max Life said, “As India advances towards a more inclusive and sustainable future, the need to create comprehensive financial solutions for all is more critical than ever. At the heart of this mission is our flagship India Protection Quotient survey, which not only measures awareness levels of life insurance but also strives to achieve a deeper, more unbiased understanding of financial protection. This year, with the inclusion of the LGBTQIA+ community, the India Protection Quotient reaffirms our commitment to diversity, inclusion, and equitable access to financial security for all Indians. We are dedicated to ensuring that everyone has the protection they deserve, driving forward a vision where every life is valued and safeguarded.”

Ramkrishna Sinha, Co-Founder, Pride Circle said, “The inclusion of the LGBTQIA+ community in Max Life’s India Protection Quotient study is an important step to uncovering the gaps and challenges faced. We are optimistic that this will lead to enhanced attention, addressing the needs of this community, and a deeper understanding of the importance of life insurance. We at Pride Circle remain committed to working for the enablement of the LGBTQIA+ community, and this is a step toward financial wellbeing.”

Awareness, Ownership and Barriers of the Indian LGBTQIA+ Community

The LGBTQIA+ community demonstrates exceptional levels of awareness regarding life insurance products, with 82% awareness of Term Life Insurance, and 88% awareness of Savings Life Insurance products. These figures surpass the slightly lower awareness levels (81% and 79% for Term Life Insurance and Savings Life Insurance products, respectively) observed in the digital segment.

However, high premiums (35%) and a higher inclination towards health insurance (48%) remain the top barriers for the community to adopt life insurance offerings. Additionally, more than 80% of the respondents have made parents nominees in their life insurance policies, in stark contrast to overall India, where 15%-25% of respondents have parents as nominees.

Overall, the cohort remains acutely aware of Term products but lags in ownership compared to the digital audience. Further, ownership and awareness of ULIPs and market-linked products remain lower within the community, presenting an opportunity for focused education and outreach efforts for the industry.

Concerns and attitude towards financial prudence

Concerns voiced by LGBTQIA+ respondents underscore their high awareness of financial vulnerabilities, particularly regarding rising medical expenses, mental health, and inflationary pressures. Despite these challenges, the community remains steadfast in their commitment to financial discipline, with 9 in 10 respondents prioritizing savings over spending, embodying a forward-thinking approach to securing their financial future. A significant portion of the community allocates a substantial portion of their income towards savings – 30% as compared to 36% by the digital respondents, albeit with higher proportions dedicated to luxury (19% vs. 14%) and basic expenses (33% vs. 28%) as compared to the digital cohort.

Preference of Life Insurance Players

The LGBTQIA+ community has a strong preference for private companies in the life insurance sector, with close to 80% expressing an inclination, while only 40% of the IPQ digital respondents favour private companies. The respondents also revealed that they are highly influenced by LGBTQIA+ support groups and forums, believing and following influencers from the community while making financial decisions.

Max Life continues to remain keenly attuned to the evolving demands of its consumers across all cohorts and social groups. Through initiatives like the India Protection Quotient survey, the company remains committed to derive valuable insights into the financial preparedness of the nation and develop tailored financial security solutions that meet the needs of modern consumers.

https://orfonline.org/expert-speak/indias-pink-economy (Kinsey scale)

2 https://kinseyinstitute.org/research/publications/kinsey-scale.php

About India Protection Quotient

Instituted in 2019, India Protection Quotient is an annual property by Max Life Insurance in association with KANTAR aimed at understanding the pulse of Indian consumers in the financial protection space. Launched with the underlying objective of increasing penetration of term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of urban Indians with regards to current financial security levels, changing savings and investment patterns, key anxieties, and triggers of financial protection in a contemporary world. The India Protection Quotient is a proprietary tool developed by Max Life in partnership with KANTAR to gauge the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (term, endowment, and ULIP).

Disclaimer:

The study is conducted in partnership with KANTAR in the top 25 Urban metros, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities in Urban India only.

Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, MumbaiTier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, PuneTier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, TiruchirappalliIPQ 6.0 vs IPQ 5.0 data comparison is amongst 25 markets only (6 metros, 9 Tier 1 and 10 Tier 2)The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964%

*Findings represented here are as per the IPQ 6.0 survey and Max Life doesn’t assume responsibility or liability for any contradictions.

**The LGBTQIA+ edition of IPQ 6.0 was administered digitally and hence the comparison with online results of the mainstream IPQ 6.0 Survey.

About Max Life Insurance

Max Life is a Joint Venture between Max Financial Services Limited (“MFSL”) and Axis Bank Limited. Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. Max Life has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2022-23, Max Life has achieved a gross written premium of INR 25,342 Cr.

For more information, please visit the Company’s website at www.maxlifeinsurance.com.

About KANTAR

KANTAR is the world’s leading marketing data and analytics business and an indispensable brand partner to the world’s top companies. We combine the most meaningful attitudinal and behavioral data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.

For more information, visit www.kantar.com

About Pride Circle

India’s Premier Diversity & Inclusion Advisory Consultancy with a mission of Social Equity by affirmative action for LGBTQIA+ community in India. They have partnered with over 450 companies across India to provide Executive Leadership Development, comprehensive Diversity & Inclusion Training, Sensitization, Consultation, Industry Roundtables, Research & Publications, job placements and professional networking opportunities that build safe, inclusive, and welcoming work environments. 

With their experience and growing roster of national and international partner companies, government & non-profit organizations, Pride Circle is leading the LGBT+ inclusion revolution in India. They conduct Audits & Assessments, Training & Sensitization, Industry Roundtables, Job Placement, Research & Publications.

Logo: https://mma.prnewswire.com/media/1992948/4492032/Max_Life_Insurance_Logo.jpg

 

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Maritime Launch Services and Isar Aerospace Extend Deadline to Finalize Statement of Work and Programmatic Milestones

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HALIFAX, NS and MUNICH, Sept. 1, 2026 /CNW/ — Maritime Launch Services Inc. (CBOE: MAXQ) (OTCQB: MAXQF) and Isar Aerospace have agreed to extend the deadline to provide additional time to complete the statement of work and certain programmatic milestones contemplated under their previously-announced facilities usage agreement for Spaceport Nova Scotia. The deadline was extended from September 1, 2026, to September 15, 2026.

The parties continue to make strong progress through an intensive and productive planning process. The extension reflects the time required to complete this work.

“We are very pleased with the progress being made between both parties,” said Stephen Matier, President and CEO of Maritime Launch Services. “Our teams are working through the detailed planning required to advance this important program. The additional 14 days will allow us to complete that work and maintain the strong momentum we have established together.”

The extension does not change the other key terms of the facilities usage agreement announced on July 7, 2026. The parties remain focused on advancing the development of Isar Aerospace’s dedicated launch complex for its Spectrum launch vehicle at Spaceport Nova Scotia, with first orbital launches targeted for 2028.The agreement supports the development of sovereign orbital launch capability from Canada and expands Isar Aerospace’s launch capability into North America.

“We are making strong progress together with Maritime Launch Services as we advance the detailed planning for our launch operations at Spaceport Nova Scotia,” said Alexandre Dalloneau, Vice President Mission and Launch Operations, Isar Aerospace. “The work between our teams has been intensive and productive, and this additional time will allow us to finalize the remaining details as we move toward execution of the program.”

About Maritime Launch Services 
Maritime Launch Services Inc. (CBOE: MAXQ, OTCQB: MAXQF) is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a dual-use commercial spaceport designed to support both civil and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location.

Spaceport Nova Scotia is Canada’s first commercial orbital launch complex, enabling small and medium launch vehicles to place satellites into low Earth orbit.

For more information, visit: www.maritimelaunch.com

About Isar Aerospace

The European space company Isar Aerospace offers launch services for transporting small and medium-sized satellites and satellite constellations into Earth orbit. The launch vehicles used to transport these satellites are developed, manufactured, and tested almost entirely in-house. Headquartered near Munich, Germany, Isar Aerospace was founded in 2018 and has grown to over 400 employees, working across 5 international locations. Private funding from international investors provides strong backing for the company’s pioneering approach to scale and industrialize launch vehicle production through vertical integration. More information: www.isaraerospace.com

https://x.com/maritimelaunch

https://www.linkedin.com/company/maritimelaunch

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. The forward-looking statements included in this press release include (without limitation) statements regarding the continuing of the term of the facilities usage agreement, continuing negotiations of the parties to the facilities usage agreement and the timing of completion of such negotiations, and anticipated launch timing.

Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Although Maritime Launch has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be factors that cause results not to be as anticipated, estimated or intended. Such forward-looking statements are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Risks and uncertainties that may cause such differences include but are not limited to: risks related to Maritime Launch’s strategy going forward; capital requirements; risks related to interest rates and inflationary pressures on the cost of doing business; geopolitical events and changes, availability of third-party contractors and service providers, and other risks inherent in the industry in which Maritime Launch operates.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE Maritime Launch Services Inc.

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Visa Launches Enhanced A2A Protect Innovations to Help Financial Institutions Stop Fraud Before Money Leaves Accounts

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New unified fraud score is the company’s first combined offering in-market since Visa’s acquisition of Featurespace which delivers real-time A2A risk insightsNew graph-powered, agentic capability helps accelerate complex fraud and risk investigationsA2A Protect has been shown to reduce over 50% more fraud and help reduce over 40% in unnecessary fraud alerts

SINGAPORE, Sept. 2, 2026 /PRNewswire/ — Visa (NYSE: V), a world leader in digital payments, today announced an enhanced version of A2A Protect, delivering real-time risk insights that help banks stop account-to-account fraud before money leaves customer accounts. The expanded solution introduces a new unified fraud score—Visa’s first in-market integration of Featurespace technology—giving financial institutions faster, clearer signals to detect more fraud while reducing unnecessary alerts.

In addition, Visa is developing its complementary fraud prevention capabilities through Visa Graph IQ, a graph-powered, agentic investigation capability that provides deeper investigative insights to help financial institutions uncover fraud networks, identify money mule activity, detect emerging threats, and accelerate fraud and risk investigations.

As account-to-account (A2A) payments accelerate globally, A2A transactions are projected to surpass 5.8 trillion by 2028, a 160% increase from 2024, with Asia Pacific expected to account for more than half of global A2A consumer transactions by 2028[1]. While this growth presents significant opportunities, it also creates new fraud risks. Asia Pacific accounts for an estimated 67% of the world’s USD 1.03 trillion in annual scam losses, with Asia alone recording USD 688.42 billion in scam-related losses in 2024[2]. This growing threat is driving increased regulatory and industry focus on strengthening fraud prevention capabilities and enhancing consumer protection.

A2A Protect leverages advanced AI and sophisticated transfer learning and gives banks immediate access to critical global risk insights on A2A transactions, without waiting months for models to develop intelligence from a bank’s own transaction data, and without having to wait for other banks to join a consortium, delivering results and value from day one. Banks that opt in can incorporate additional network-level signals to enhance detection of emerging threats operating across the ecosystem.

“As account-to-account payments continue to accelerate across Asia Pacific, financial institutions are looking for ways to grow digital payments with confidence while maintaining a seamless experience for consumers and businesses,” said Serene Gay, Head of Value-Added Services, Asia Pacific at Visa. “The latest enhancements to A2A Protect combine Visa’s network intelligence with advanced AI capabilities to help our clients detect fraud earlier, respond faster to emerging threats, and strengthen trust in the digital payments ecosystem.”

For financial institutions that opt into network level intelligence sharing, A2A Protect highlights emerging scam hotspots and coordinated fraud activity – insights that may be difficult for individual financial institutions to detect alone, and that help the wider ecosystem respond faster to new threats. This gives financial institutions an earlier and more complete view of risk, helping to identify scams before authorisation. In fact, Visa A2A Protect has been shown to increase fraud detection by up to 75% in the first six months of deployment.

A2A Protect integrates with financial institutions’ current systems through a single API, reducing implementation time and complexity. Each alert includes a plain language explanation of why a transaction was flagged, helping fraud teams act quickly and confidently without disrupting genuine customers.

For more information on how Visa works to prevent fraud across the ecosystem, visit Visa.com/security.

[1]  Juniper Research, Global Instant Payments Market Report, September 2025

[2] GASA, Asia Scam Report, 2024

About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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SOURCE Visa

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Chemonics Australia Expands Public Sector Advisory, Infrastructure, and Development Delivery Capabilities with Acquisitions of 35 South and JID

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The acquisitions strengthen Chemonics Australia’s ability to support governments, development partners, and institutions across Australia and the Indo-Pacific with practical delivery capability from strategy and design through implementation.

CANBERRA, Australia, Sept. 2, 2026 /PRNewswire/ — Chemonics has completed its acquisitions of 35 South Advisors and JID, strengthening its capabilities across public and social sector delivery, international development, infrastructure, and implementation support throughout Australia and the Indo-Pacific. Together, these acquisitions strengthen Chemonics Australia’s ability to help clients tackle complex challenges by combining talented professionals with deep analytical and implementation expertise, advanced technology, and data-driven decision-making tools.

As part of Chemonics, which has been delivering programs for over 50 years, Chemonics Australia launched in 2025 to better support governments, institutions, and development partners across Australia and the Indo-Pacific. The acquisitions of 35 South and JID strengthen that effort by adding complementary expertise in public sector delivery, infrastructure, and program implementation, expanding Chemonics Australia’s capabilities to support partners from planning and design through to delivery.

35 South strengthens Chemonics Australia’s ability to support Commonwealth, State, and Territory agencies. With practical expertise in public policy, program and service delivery, economics, and data insights, the firm has built a reputation for exceptional client service, agility, and practical problem solving. Its experience spans finance, health, social services, central agencies, international development, defence, and other sectors. Its fit-for-purpose consulting, government delivery experience, and tailored client engagement will help agencies turn complex reforms into practical action and measurable results.

JID strengthens Chemonics Australia’s on-the-ground delivery capability. With teams already delivering key programs across the Indo-Pacific region, JID brings proven expertise in social and economic infrastructure, service delivery, disaster response and resilience, and complex program execution. JID has supported Australia’s Department of Foreign Affairs and Trade and other regional partners across Papua New Guinea, Tonga, Solomon Islands, Fiji, and Vanuatu. This includes work leading and managing major infrastructure investments across the Pacific. JID’s end-to-end model combines advisory services, program management, and operational delivery, enabling partners to implement complex programs and strengthen resilience in remote, disaster-affected, and resource-constrained settings.

Chemonics Australia was established to bring Chemonics’ global experience and delivery capability closer to partners across Australia and the Indo-Pacific. Building on that foundation, the acquisitions deepen Chemonics Australia’s expertise, while drawing on Chemonics’ more than 50 years of experience delivering programs in over 160 countries. Together, they expand Chemonics Australia’s ability to support partners including Australia’s Department of Foreign Affairs and Trade and Department of Defence, New Zealand’s Ministry of Foreign Affairs and Trade, the Asian Development Bank, and other government and development institutions across the region.

“I’m very excited to welcome 35 South and JID to the Chemonics family,” said Jamey Butcher, Chair and CEO of Chemonics. “I’ve been incredibly impressed by the work both organisations have done and by the people behind it. Bringing these teams together with Chemonics Australia strengthens what we can offer partners across Australia and the Indo-Pacific and brings expertise and experience that will make our organisation stronger around the world.”

“35 South was created to help governments and not-for-profits design better policies, deliver citizen-centred services, and operate more effectively,” said Scott Alexander, CEO of 35 South. “This next chapter gives our team access to broader capability, expertise and knowledge that Government demands while preserving the close client delivery, relationships, agility, and practical approaches that will help our clients achieve lasting, positive outcomes for Australian communities.”

“JID was established to help partners deliver complex development programs that work in practice,” said Brad Bowman, CEO of JID. “Our strength comes from teams embedded across the region and their ability to manage infrastructure and services in demanding environments. This partnership will give those teams stronger systems and resources to support larger programs, while keeping local knowledge at the centre of delivery.”

Looking ahead, the acquisitions create opportunities to strengthen public sector delivery, infrastructure implementation, and development programming across Australia and the Indo-Pacific. The combined Chemonics Australia organisation will continue to work in partnership with governments, regional institutions, development partners, and communities to support complex reform efforts, manage large investments effectively, and deliver programs that respond to local priorities and contribute to long-term outcomes.

For additional media inquiries and further information, please contact:
Natalie Wisely
Senior Director, Executive Strategy and Communications, Chemonics International
media@chemonics.com

About Chemonics Australia
With a focus on the Indo-Pacific, Chemonics Australia works with partners to offer fit-for-purpose solutions to today’s toughest challenges, combining deep regional insights with a global track record to deliver practical, sustainable impact. Through our regional offices, long-term partnerships, and network of local and international experts, we deliver tailored, results-driven solutions that strengthen systems, build local capacity, and achieve lasting impact for communities.

About 35 South
Founded in 2021, 35 South is a consulting firm recognised for its exceptional client service, data analytics, program delivery, financial and economic modelling and practical problem-solving. The firm supports Australian Government and not-for-profit partners across priority sectors including health, social services, central agencies, defence, and international development.

About JID
Established in 2016, JID specialises in project advisory, program management, and on-the-ground delivery in complex environments. With teams across the region, JID draws on deep local expertise and strong project management discipline to deliver infrastructure and service delivery programs that support sustainable, long-term impact.

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SOURCE Chemonics Australia

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