Axis Max Life Insurance Ltd reported a strong start to FY27, with Individual Adjusted First Year Premium rising 17% year-on-year to ₹1,810 crore in the first quarter. The growth helped the insurer increase its private market share by 13 basis points to 10.1%, while Total APE rose 15% to ₹1,922 crore.
Profitability also strengthened, with Value of New Business (VNB) increasing 33% to ₹446 crore and New Business Margin expanding 315 basis points to 23.2%. Renewal premium grew 20% to ₹4,639 crore, taking Gross Written Premium 19% higher to ₹7,607 crore. Individual new business sum assured increased 32%, while AUM crossed ₹2 lakh crore at ₹2,02,621 crore, up 11%. Embedded Value rose 15% to ₹30,415 crore, with Operating RoEV at 14.9%.
The insurer’s 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%.
Axis Max Life’s expanding presence in Assam, including three branches in Guwahati, positions the city as an important market for protection, savings and retirement products. Its emphasis on digital and multi-channel distribution could further support insurance penetration among Guwahati’s growing urban and self-employed customer base.
At the parent level, Max Financial Services reported consolidated revenue excluding investment income of ₹7,289 crore, up 18%, while consolidated PAT rose 37% to ₹118 crore.
