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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.
Hans India
24-06-2025
- Business
- Hans India
Axis Max Life Insurance: A Financial Partner for Life, Offering Protection and Investment Plans
Axis Max Life Insurance is a joint venture between Max Financial Services Limited (MFSL) and Axis Bank Limited. It offers a wide range of protection and investment plan for millions of Indians. They aim to secure families with the help of wealth creation and by fulfilling long-term life goals. After successfully navigating the insurance sector for more than twenty years, Axis Max Life Insurance offers different types of financial products that meet the evolving financial needs of customers across all life stages. Comprehensive Protection for Every Life Stage Axis Max Life Insurance Company offers comprehensive protection and investment plans for different life stages. Their key offerings include: Term Insurance Plans A term insurance plan is one type of life insurance product that provides financial protection for your family. If the insured person passes away during the policy term, the nominee receives a predefined benefit. Different types of term insurance plans include: Axis Max Life Smart Term Plan Plus This is a non-linked, non-participating individual pure risk premium life insurance plan designed to provide comprehensive protection. It offers a death benefit along with added advantages, such as a special exit value of up to 200% of total premiums paid and an inbuilt terminal illness benefit. Axis Max Life Smart Secure Plus Plan This is a non-linked, non-participating individual pure risk premium life insurance plan that provides a death benefit along with enhanced protection through built-in features, like the special exit value and terminal illness benefit. Axis Max Life Smart Total Elite Protection Plan This is also a non-linked, non-participating individual pure risk life insurance plan that provides a high death benefit in exchange for affordable premium payments. It also includes built-in benefits, such as terminal illness coverage and a coverage continuation benefit. You can get enhanced financial protection for your loved ones with this policy. Axis Max Life Saral Jeevan Bima This again is a non-linked, non-participating individual pure risk premium life insurance plan designed to protect the financial future of the nominee or family members in the event of the life insured's untimely demise. With affordable premiums and coverage available up to 70 years of age, this term plan can serve a diverse range of individuals. Investment Plans These schemes can help you build long-term wealth with disciplined and periodic investments. You can choose a suitable plan for future needs based on your budget and goals. Some of the key investment plans to consider are: Axis Max Life Fast Track Super This unit-linked, non-participating individual life insurance plan offers life cover throughout the policy tenure. It provides either a lump sum payout or a monthly income for 5 years post-maturity. Axis Max Life Smart Fixed-Return Digital Plan This is a non-linked, non-participating online life insurance savings plan. It offers guaranteed fixed returns at maturity and life cover. Axis Max Life Smart Flexi Protect Solution This plan provides the combined benefits of Axis Max Life Flexi Wealth Plus and the Axis Max Life Critical Illness and Disability Secure Rider. Axis Max Life Platinum Wealth Plan This is a unit-linked, non-participating life insurance plan. Ideal for long-term savings through market-linked investments, this plan also provides life cover. Healthcare Plans Axis Max Life Insurance also offers the Critical Illness Benefit as an add-on to its Axis Max Life Smart Secure Plus term plan. This plan offers comprehensive financial protection through payouts upon diagnosis of life-threatening illnesses, in addition to health insurance coverage. NRI Plans The Axis Max Life Smart Total Elite Protection Term Plan allows NRI policyholders to enjoy higher coverage without paying higher premiums. Financial Strength and Market Presence of Axis Max Life Insurance In FY 2023-2024, Axis Max Life Insurance delivered a strong financial performance and became one of the leading life insurers in the country. The company recorded a gross written premium of ₹29,529 crore, and the shareholders' profit after tax was at ₹360 crore. The total Assets under management (AUM) were ₹1,50,836 crore. The sum assured in force rose 27% to ₹17,79,409 crore. The solvency ratio was 172%. Persistency remained strong with a 13-month rate of 89% and a conservation ratio of 93%. Axis Max Life paid ₹1,436 crore in policyholder bonuses, but also maintained high efficiency with an expense-to-premium ratio of 22%. The claim settlement ratios stood at 99.65% for individual policies and 99.54% for group policies. About Axis Max Life Insurance Axis Max Life Insurance Limited was previously known as Max New York Life Insurance Company Limited and Max Life Insurance Company Limited. It is a leading life insurance provider in India in the recent period. Headquartered in New Delhi, it is the country's largest non-bank private-sector life insurer. Established in 2000, the company operates as an 80:20 joint venture between Max Financial Services and Axis Bank. It is a subsidiary of the publicly listed Max Financial Services and began its operations in 2001.
Indian Express
31-05-2025
- Business
- Indian Express
Axis Max Life Concludes Brand Transition with Domain Migration
Continuing with its rebranding initiative from Max Life Insurance to Axis Max Life Insurance that was initiated in December 2025, the leading protection brand has now moved to a new digital address – To facilitate a seamless transition, the company has put in place a system so that individuals who land on the old website address will be automatically redirected to the new address – About Axis Max Life Insurance Axis Max Life Insurance Limited, earlier known as Max Life Insurance Company Ltd., is a joint venture between Max Financial Services Limited (MFSL) and Axis Bank Limited, a leading Indian private sector bank in India. As a leading player in the life insurance space, Axis Max Life Insurance offers a wide array of protection and life insurance cum long term savings products to serve the needs of individuals from different walks of life. For over two decades, Axis Max Life Insurance has achieved multiple milestones and provided innovative protection solutions to millions. This commitment Axis Max Life Insurance to provide best in class service has been underscored with a claim settlement ratio (CSR) of 99.70% as per annual audited financials for FY 24-25. This is the third time in a row that the company has achieved a CSR greater than 99.5%. Impact of the Transition on Customers The movement to the new web domain and the rebranding to Axis Max Life Insurance will not impact the existing policies of customers. There will be no change with regards to the features and benefits of policies held by existing customers. The main change apart from the new web address – will be in terms of the look and feel of the website and the use of an updated logo for the rebranded entity, Axis Max Life Insurance. What Can Customers Expect from the Transformation? The rebranding is only designed to underscore the importance of the continuing strategic partnership between Max Financial Services Limited (MFSL) and Axis Bank Limited. This move will serve to strengthen the Axis Max Life Insurance brand by continuing to build on the synergies of a partnership that involves two key players in India's financial services landscape. In the meantime, all of the company's online services will continue to be available on the new website – Going forward, this partnership and rebranding is expected to enhance the visibility of Axis Max Life as a leading brand in the protection space. Additionally, the continuous commitment of the brand towards offering best in class services to its customers is expected to improve existing customer experience. This will be achieved through further digitisation of processes and introduction of products that are in line with the changing dynamics of the protection space. About the New Brand Identity The Axis Max Life rebranding goes beyond just a name change and a shift to new domain. During the initial phase of this re-branding in December 2024, Axis Max Life also unveiled a new logo that combined the iconic burgundy-coloured capital letter 'A' of Axis Bank with the traditional blue colour of the old Max Life Logo. This symbolises the synergistic relationship the two entities have had in the past and plan to continue in the future. Continued Commitment to Brand Values The rebranding and movement to a new web domain has however, kept one key thing unchanged – the core values that drive Axis Max Life Insurance. These core values of trust, protection and innovation will continue to drive the company's future endeavours. New initiatives of the company will also continue to be supported by inclusion of advanced technologies, introduction of superior service mechanisms and further development of a customer-centric support system. In case of any queries regarding your existing policies or domain migration, please reach out to our customer service team at For quick access to our online services such as premium payments and checking/updating policy information, we urge you to bookmark our new website address – Disclaimer: This content is sponsored and does not reflect the views or opinions of IE Online Media Services Pvt Ltd. No journalist is involved in creating sponsored material and it does not imply any endorsement whatsoever by the editorial team. IE Online Media Services takes no responsibility for the content that appears in sponsored articles and the consequences thereof, directly, indirectly or in any manner. Viewer discretion is advised.
