Max Financial Services announced its Investor Release for H1 FY26, showcasing strong growth. Individual Adjusted first-year Premium grew by 18% to Rs 3,891 cr. Value of New Business increased by 27% to Rs 974 cr. The company maintains leadership positions in persistency and online protection. The results reflect a robust performance and strategic focus on long-term growth and customer value.
Financial Performance Highlights
Max Financial Services reported strong financial results for H1 FY26:
- Individual Adjusted first-year Premium: Rs 3,891 cr, up 18%.
- Total APE grew by 15%.
- MFSL revenue, excluding investment income, grew by 18% to Rs 15,090 cr.
- Consolidated Profit After Tax: Rs 92 cr.
- Value of New Business (VNB): Rs 974 cr, a 27% increase. In Q2 FY26, VNB was Rs 640 cr, up 25%.
- New Business Margin (NBM): 23.3%. Q2 FY26 NBM was 25.5%.
- Operating RoEV: 16.3%.
Key Strategic Achievements
The company highlighted several strategic achievements during H1 FY26:
- Proprietary channels APE grew by 17%.
- Total Partnership APE grew by 13%.
- Maintained leadership in Overall E-commerce, ranked #1 in online Protection & Savings.
- Successfully onboarded 31 new partners.
Product and Customer Initiatives
Max Financial Services continued to focus on product innovation and customer service:
- Retail Protection and Health APE grew by 36% to 540 cr.
- Annuity APE grew significantly, with Q2 FY26 showing a 122% increase.
- Launched the Group Smart Health Insurance Plan.
- Introduced short Premium Payment Term options in the SWAG Pension plan.
- Maintained leadership in 13M Persistency and ranked #2 in 25M and 37M persistency.
- Axis Max Life’s Customer App onboarded 21% new to digital ecosystem customers.
Axis Max Life Financial Summary
Axis Max Life Insurance’s financial performance summary for H1 FY’26 includes:
- Total APE: Rs 4,175 cr, up 15%.
- Ind Adjusted FYP: Rs 3,891 cr, up 18%.
- Gross Written Premium: Rs 15,490 cr, up 18%.
- Renewal Premium: Rs 9,503 cr, up 18%.
- AUM: Rs 1,85,336 cr, up 9%.
- Net Worth: Rs 6,294 cr, up 6%.
- Embedded Value: 26,895 cr, up 15%.
- Solvency: 208%.
Key Business Segments Growth
- Retail Protection and Health APE grew by 36%.
- Annuity APE grew by 85%.
- Group Credit Life grew by 24% in Q2 FY26.
Distribution Channels
- Proprietary channels APE grew by 17% YoY.
- Total Partnership grew by 13% YoY.
Source: BSE
