Max Financial Services Ltd

📊 Max Financial Services Q1 FY27: Strong Revenue & VNB Growth

- MFSL revenue (excluding investment income) at Rs 7,289 cr, grew 18% in 3M FY'27. Consolidated Profit After Tax at Rs 118 cr.

- Individual Adjusted First Year Premium at Rs 1,810 cr grew 17% vs private industry growth of 15%. Private market share expanded 13 bps to 10.1%.

- Value of New Business (VNB) at Rs 446 cr grew 33% YoY. New Business Margin (NBM) improved to 23.2% from 20.1%.

- Operating RoEV at 14.9%. Market Consistent Embedded Value (MCEV) as of June'26 at Rs 30,415 cr.

- Assets Under Management (AUM) reached Rs 2 lakh crore milestone.

- Axis Bank infused Rs 381 cr into Axis Max Life Insurance, increasing its ownership by 0.98% to a total of 19.99%.

- Total APE grew 15% to Rs 1,922 cr. Gross Written Premium grew 19% to Rs 7,607 cr.

- Retail Protection and Health APE grew 44% to Rs 314 cr. Annuity APE grew 116% to Rs 246 cr.

- Individual Sum Assured grew 32% to Rs 1,17,277 cr. Company maintained Rank 3 in Individual Sum Assured.

- Claim Paid Ratio at 99.8% (as per FY 25-26 audited financials). Ranked #1 in Customer Experience amongst Indian Life insurers with NPS of 61.

- On-boarded 10 new partners during 3M FY'27. Proprietary channels APE grew 15%, with online proprietary growing 27%.

- Launched new products: 'Smart Global Investment Fostering Tomorrow Plan' (USD denominated ULIP) and 'Smart Retirement Income with Sustained Earnings Plan' (variable annuity).

- Solvency ratio (pre-dividend) at 198%.

- Ranked #28 in Great Place to Work 'Best Companies to Work For' category.