Axis Max Life Insurance Ltd began FY27 with broad-based growth, reporting a 17% year-on-year rise in Individual Adjusted First Year Premium to ₹1,810 crore in the first quarter. The insurer’s Value of New Business (VNB) jumped 33% to ₹446 crore, while New Business Margin improved 315 basis points to 23.2%.
Total APE increased 15% to ₹1,922 crore and private market share improved 13 bps to 10.1%. Renewal premium rose 20% to ₹4,639 crore, lifting Gross Written Premium 19% to ₹7,607 crore. Individual new business sum assured grew 32%, while AUM crossed ₹2 lakh crore, reaching ₹2,02,621crore. Embedded Value increased 15% to ₹30,415 crore and Operating RoEV stood at 14.9%.
From a segment perspective, proprietary-channel APE grew 15%, led by a 27% rise in online business, while partnership channels expanded 16%. Group Credit Life grew 57%, Protection and Health 44%, and Annuity business surged 116%.
Arunachal Pradesh remains a strategic market for Axis Max Life, which has undertaken insurance-sector initiatives in Itanagar and is the designated lead life insurer for the state. The company’s focus on insurance awareness, protection and financial inclusion could support deeper penetration in the state’s emerging market.
At the parent level, Max Financial Services reported consolidated revenue excluding investment income of ₹7,289 crore, up 18%, while PAT rose 37% to ₹118 crore.
