Stock Report

Axis Max Life reports 19% YoY growth in Individual Adjusted First Year Premium in FY'26; VNB increases by 26% YoY

Posted On : 2026-05-14 10:59:57( TIMEZONE : IST )

Max Financial Services Limited has recorded consolidated revenue excluding investment income at Rs. 38,039 crores, growing 17% year-on-year in FY'26. The consolidated revenue including investment income stands at Rs. 47,696 crores and consolidated Profit after Tax (PAT) at Rs. 106 crores in FY'26.

Financial Year 2026 ("FY'26") Highlights:

- Max Financial Services Limited reports 17% growth in consolidated revenue excluding investment income

- Axis Max Life's Private market share increases by 56 bps to 10.4%

- Individual Adjusted First Year Premium at Rs. 9,885 crores, grew 19% YoY

- Gross Written Premium: Rs. 38,877 crores, up 17% Year-on-Year (YoY)

- Measure of profitability - Value of New Business (VNB) at Rs. 2,647 crores with a YoY growth of 26%

- New business margin improved to 25.2%; Total APE growth of 20% achieved

- Embedded Value at Rs. 28,871 crores, grew 15% with an Operating RoEV of 18.7%

- Individual New Business Sum Assured grew by 42%

- Assets Under Management (AUM) at Rs. 1.89 lakh crores, up by 8% YoY

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Limited ("Axis Max Life" / "Company"), has reported new business growth (Individual Adjusted First Year Premium) of 19% in FY'26, reaching Rs. 9,885 crores. This has resulted in a private market share gain of 56 basis points (bps) to 10.4%. Axis Max Life has delivered a 20% YoY Annualized Premium Equivalent (APE) growth in the fiscal. This performance was driven by Proprietary channel APE growth of 28% YoY, Total Partnership APE growth of 14%, and New Partnership APE growth of 90%. In the fiscal, Axis Max Life has secured 60 new business partnerships.

Further, in FY'26, Axis Max Life's individual renewal premium grew by 16% to Rs. 24,374 crores, taking the Gross Written Premium to Rs. 38,877 crores, an 17% YoY increase. Additionally, the Company has reported New Business Margins of 25.2% in FY'26 up from 24% during the same period last year. The Value of New Business, a measure of profitability, experienced a YoY growth of 26%.

Sumit Madan, Managing Director and CEO, Axis Max Life, said, "Axis Max Life has delivered a double-digit Individual Adjusted FYP growth of 19% in the fiscal, ahead of private industry growth of 12%. This is underpinned by the growth across our proprietary and partnership verticals. This has led our market share to expand by 56 bps and is at 10.4% in FY'26, thus maintaining our market position."

Shares of Max Financial Services Limited was last trading in BSE at Rs. 1598.55 as compared to the previous close of Rs. 1653.05. The total number of shares traded during the day was 69118 in over 6551 trades.

The stock hit an intraday high of Rs. 1694.30 and intraday low of 1590.15. The net turnover during the day was Rs. 112340443.00.