Latest news with #AxisMaxLife
Economic Times
a day ago
- Business
- Economic Times
No hurdle likely in Max Financial merger plan: Axis Max Life
Synopsis Axis Max Life anticipates a smooth merger with Max Financial Services, pending parliamentary approval of the insurance bill. The amendment to the Insurance Act will explicitly permit mergers between insurance and non-insurance entities, addressing a current legal ambiguity. Regulatory clearance, following the NCLT-led process, is expected to take 8 to 12 months after the bill's enactment. iStock Axis Max Life Insurance does not expect any regulatory hurdles to its planned merger with Max Financial Services, saying the deal will proceed smoothly once Parliament passes the pending insurance bill that explicitly permits mergers between insurance and non-insurance bill, cleared by the finance ministry and awaiting clearance in Parliament, amends Section 35 of the Insurance Act to allow a non-insurance company to merge into an insurance company with Insurance Regulatory and Development Authority of India's approval. "In our case, the company we plan to merge with is only a holding entity without an operating balance sheet, so we don't foresee any issues," said Prashant Tripathy, MD and CEO, Axis Max Life in an exclusive interaction with ET. Once enacted, the NCLT-led merger process is expected to take 8 to 12 months, including regulatory clearance, a source insurance regulator formed the Dinesh Khara Committee to draft rules on the amendments, and the committee has also recommended that any proposed merger should proceed only with explicit regulatory approval. The need for amendment arose with Shriram Group's bid to merge its insurance business with its non-insurance holding company. It exposed a legal grey area the government is now moving to address with this amendment. Under the current Insurance Act, mergers are explicitly allowed only between insurers, leaving combinations with non-insurance firms open to interpretation.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Axis Max Life's Ind. Adj. FYP grew 23%, VNB rose 32% YoY in Q1FY'26
Quarter 1 Financial Year 2026 ('Q1 FY'26') Highlights: 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. 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% 1,553 crores, grew 23% Gross Written Premium: ₹ 6,397 crores, up 18% Year-on-Year (YoY) 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% 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% 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% 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% View All Prev Next 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. Note to the Reader: This article is part of Hindustan Times' promotional consumer connect initiative and is independently created by the brand. Hindustan Times assumes no editorial responsibility for the content.
Business Standard
2 days ago
- Business
- Business Standard
Axis Max Life's Individual Adjusted First Year Premium grew 23% YoY and profitability measure VNB increased by 32% YoY in Q1FY'26
VMPL Noida (Uttar Pradesh) [India], August 8: 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: 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.
The Wire
2 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.
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Business Standard
2 days ago
- Business
- Business Standard
Max Financial share rises 4% on healthy Q1 results; key numbers here
Max Financial Services shares rose after the company reported a strong set of numbers for the June quarter of financial year 2026 (Q1FY26). Max Financial Services Limited (MFSL), a part of India's leading business conglomerate – the Max Group – is primarily focused on the life insurance sector. SI Reporter New Delhi Max Financial share price: Max Financial shares rose as much as 3.78 per cent to hit an intraday high of ₹1,563.45 per share on the last trading day of the week i.e. Friday, August 8, 2025. At 11:30 AM, Max Financial share was trading 2.02 per cent higher at ₹1,536.85, even as BSE Sensex was trading 0.68 per cent lower at 80,074.12 levels/ Why did Max Financial share rise today? Max Financial Services shares rose after the company reported a strong set of numbers for the June quarter of financial year 2026 (Q1FY26). The company reported an 18 per cent year-on-year (Y-o-Y) growth in consolidated revenue, excluding investment income. Its life insurance arm, Axis Max Life Insurance Limited, recorded a healthy business performance, with its private market share improving by 121 basis points (bps) to 10 per cent in Q1. Individual Adjusted First Year Premium rose 23 per cent Y-o-Y to ₹1,553 crore, while Gross Written Premium increased 18 per cent to ₹6,397 crore. Profitability also saw an uptick, with the Value of New Business (VNB) growing 32 per cent Y-o-Y to ₹335 crore. New business margins expanded by 260 basis points to 20.1 per cent. The Embedded Value stood at ₹26,478 crore, marking a 20 per cent growth, with an Operating Return on Embedded Value (RoEV) of 14.3 per cent. Other operational metrics were also strong – Individual New Business Sum Assured grew 26 per cent Y-o-Y, new retail policy sales were up 10 per cent, and Assets Under Management (AUM) increased 14 per cent to ₹1,83,211 crore. Prashant Tripathy, CEO and managing director, Axis Max Life, said, "We have started the fiscal on a positive momentum, achieving a 23 per cent Y-o-Y 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 per cent in the first quarter, while the Value of New Business (VNB) saw a 32 per cent Y-o-Y 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," Tripathy added. Moreover, the company launched 'Axis Max Life app,' a digital platform that integrates life insurance servicing with wellness benefits. The app is a comprehensive, digital solution for customers, designed to simplify life insurance management, promote holistic wellness, and enhance overall customer experience. About Max Financial Max Financial Services Limited (MFSL), a part of India's leading business conglomerate – the Max Group – is primarily focused on the life insurance sector. It holds and actively manages an approximately 81 per cent majority stake in Axis Max Life Insurance. The company is publicly listed on both the NSE and BSE. In addition to a ~1.7 per cent stake held by founder Analjit Singh and the sponsor family, Max Financial boasts a diverse and prestigious shareholder base. This includes global institutions such as MSI, Capital Group, Vanguard, Polar, Pictet, Jupiter, BlackRock, Kuwait Investment Authority, Abu Dhabi Investment Authority, Franklin Templeton, Pioneer, JP Morgan, Norges Bank, and Oxbow Capital. A number of prominent domestic and international asset management companies also hold stakes in MFSL, including HDFC, Nippon, ICICI Prudential, DSP, SBI, Kotak, Aditya Birla Sun Life, Mirae, UTI, Canara Robeco, Invesco, HSBC, WhiteOak, Edelweiss, TATA, Bandhan, and PGIM. Additionally, several private life insurance companies such as HDFC Life, SBI Life, TATA AIA, Kotak Life, ICICI Prudential Life, Bajaj Allianz Life, and Aditya Birla Sun Life Insurance are also among its shareholders.
