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The Wire
6 days ago
- Business
- The Wire
Axis Max Life's Individual Adjusted First Year Premium grew 23% YoY and profitability measure VNB increased by 32% YoY in Q1FY'26
Quarter 1 Financial Year 2026 ('Q1 FY'26') Highlights: • Max Financial Services Limited reports 18% growth in consolidated revenue excluding investment income • Axis Max Life Insurance Limited's private industry market share increased by 121 bps to 10% • Individual Adjusted First Year Premium at ₹1,553 crores, grew 23% • Gross Written Premium: ₹6,397 crores, up 18% Year-on-Year (YoY) • VNB (measure of profitability) at ₹335 crores, up 32% YoY; New business margin improved by 260 bps to 20.1% • Embedded Value at ₹26,478 crores, grows 20% with an Operating RoEV of 14.3% • Individual New Business Sum Assured grew by 26% • Assets Under Management (AUM) at ₹1,83,211 crores, up by 14% • New retail policy sales increase by 10% Noida, August 08, 2025: Continuing on its growth momentum during Q1 FY'26, Axis Max Life Insurance Limited ('Axis Max Life'/ 'Company'), formerly known as Max Life Insurance Company Limited, new business growth (Individual Adjusted First Year Premium) grew by 23% to ₹1,553 crores leading to private market share gain by 121 basis points (bps) to 10.0%. Number of new retail policies grew by 10%. The new business growth was fuelled by strong growth of 40% in Annuity, 36% in Retail Protection & Health and 41% from NPAR-Savings. Additionally, Axis Max Life has successfully on-boarded 15 new partners in Q1 FY'26 including 8 Retail and 7 Group business partners. Further, the renewal premium rose by 17% to ₹3,873 crores, taking the Gross Written Premium to ₹6,397 crores, an increase of 18% over the first quarter of previous financial year. Additionally, Axis Max Life reported New Business Margins of 20.1% in Q1 FY'26 vs 17.5% last year. Value of New Business (VNB), a measure of profitability experienced a YoY growth of 32% during Q1 FY'26 aided by product mix improvements. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "We have started the fiscal on a positive momentum, achieving a 23% year-on-year increase in Individual Adjusted First Year Premium. This robust growth is built on a foundation of a balanced product mix, a wide-reaching and diversified distribution network, and a relentless focus on innovation to meet the emergent customer needs. Our New Business Margin improved significantly to 20.1% in the first quarter, while the Value of New Business (VNB) saw a 32% year-on-year growth reflecting a proactive and strategic market approach, delivering a 121 basis point gain in Axis Max Life's private industry market share. This performance not only demonstrates our operational efficiency but also the ability to generate sustainable, long-term value. As we move forward, our aspiration is clear and ambitious: to continue outpacing the industry growth while marching towards the goal of being among the top 3 private life insurers in India." Focusing on innovation, the Company launched 'Axis Max Life app' a digital platform that integrates life insurance servicing with wellness benefits. This app is a comprehensive, digital solution for customers, designed to simplify life insurance management, promote holistic wellness, and enhance overall customer experience. Reiterating its commitment towards its customers, the Company continues to maintain one of the top industry position in Claims Paid Ratio with a ratio of 99.70%. The company was also ranked 28th by GPTW among Top 100 companies to work for in India, among 'Top 50 India's Best Workplaces' Building A Culture Of Innovation By All' in 2025 and among the 'Top 25 Best Workplaces in BFSI 2025' in India. Key Financial Summary of Axis Max Life: ₹ Crores Q1 FY'26 Q1 FY'25 YoY Financial performance Summary Individual Adjusted FYP 1,553 1,260 23% Total APE 1,668 1,453 15% Renewal Premium 3,873 3,323 17% Gross Written Premium 6,397 5,399 18% Number of Policies (000's) 166 151 10% Individual New business Sum Assured 89,079 70,846 26% Assets Under Management 1,83,211 1,61,153 14% Embedded Value 26,478 22,043 20% RoEV 14.3% 14.2% 10 bps New Business Margins 20.1% 17.5% 2.6% Value of new business 335 254 32% Solvency 199% 203% -4.0% About Max Financial Services Limited Max Financial Services Limited (MFSL) is part of India's leading business conglomerate - the Max Group. Focused on Life Insurance, MFSL owns and actively manages an ~81% majority stake in Axis Max Life. MFSL is listed on the NSE and BSE. Besides a ~1.7% holding by Analjit Singh and sponsor family, some of the other group shareholders include MSI, Capital Group, Vanguard, Polar, Pictet, Jupiter, Blackrock, Kuwait Investment Authority, Abu Dhabi Investment Authority, Franklin Templeton, Pioneer, JP Morgan, Norges Bank, Oxbow Capital, Asset Management Companies - HDFC, Nippon, ICICI Prudential, DSP, SBI, Kotak, Aditya Birla Sun Life, Mirae, UTI, Canara Robeco, Invesco, HSBC, Whiteoak, Edelweiss, TATA, Bandhan and PGIM, and Private Life Insurance Companies – HDFC, SBI, TATA AIA, Kotak, ICICI Pru, Bajaj Allianz and Aditya Birla Sun Life. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ('MFSL') and Axis Bank Limited. Axis Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It 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 annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr. Axis Max Life has recently transitioned to a new domain as part of its rebranding exercise. This migration has no impact on existing policyholders who will continue to receive all policy benefits and services as earlier. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI This is an auto-published feed from PTI with no editorial input from The Wire.
Indian Express
21-05-2025
- Health
- Indian Express
Lancet study flags adolescent health challenges for 2030: Why diet, anaemia and mental health must be in focus
Poor nutrition, anaemia and mental health will be a challenge for one billion adolescents globally by 2030, according to an analysis by the Lancet Commission. The analysis used data from the 2021 Global Burden of Disease study. New projections suggest that, without political will, policy initiatives and financial investments, adolescents will be exposed to health risks in countries which are already battling multiple disease burdens. COMMON ADOLESCENT HEALTH ISSUES The Lancet Commission estimates that nearly one-third of adolescent girls will be anaemic globally by 2030 while 464 million adolescents (boys and girls) will be overweight or obese (143 million more than in 2015). Similarly, adolescent mental health has seen a significant decline over the past three decades in countries with available data, a trend exacerbated by the COVID-19 pandemic. POOR NUTRITION, ANAEMIA KEY CHALLENGES IN INDIA The report uses a measure called Disability Adjusted Life Years (DALYs), which are the years of healthy life lost due to sickness, disability or premature death. The DALYs attributable to communicable, maternal and nutritional conditions among girls in India is 14,155 per 100,000 population, while it is 12,310/per lakh in boys which remains above the target of <2,500 per 100,000. The DALYs due to nutritional deficiencies in girls in the age group of 10-24 is 1,358 out of every 100,000 while in boys it is 370.9 per lakh. Altogether 52 per cent girls and 20.8 per cent boys in this age group were anaemic when the target should be less than 10 per cent. Also, 43 per cent of girls in the 15-24 age group are among those who are 'Not in Employment, Education or Training (NEET),' posing serious challenges in health and youth engagement. In India, the rate of DALYs attributable to mental health and self-harm in the girls in the 10-24 age group was 2.738 per lakh. SOME RIGHT POLICY MOVES Commission co-chair Professor Sarah Baird, George Washington University (USA), said that India has made important policy progress by overturning penal codes for consensual same sex relationships and adding adolescent health as a separate topic in the medical education curriculum. 'India has also been identified as an exemplar country for handling teenage pregnancies,' she says. IS CLIMATE CHANGE A NEW THREAT? The Commission identified several significant new threats to adolescent health like climate change and the digital revolution. 'Today's adolescents are the first generation who will live their entire life with the average annual global temperature that has consistently been 0.5 degree centigrade higher than pre-industrial levels. And by 2100, 1.9 billion adolescents will live in a world that is expected to warm around 2.8 degrees above pre-industrial times, bringing catastrophic risks for their health such as heat-related illnesses, reduction in food and water quality and availability, and a rise in mental health conditions related to climate events,' the report said. Youth Commissioner Surabhi Dogra says the report factors in air pollution as a non-communicable disease risk factor. She also made a strong case for investing in the future of teen health. 'Adolescent workers in informal sectors such as agriculture continue to face exploitation and occupational health dangers. We need to equip them with skills and opportunities to obtain jobs in the green and blue economies,' she adds.
