Life Insurance company Max Financial Services announced Q1FY26 results Max Financial Services Limited reports 18% growth in consolidated revenue excluding investment income. Axis Max Life Insurance Limited’s private industry market share increased by 121 bps to 10%. Individual Adjusted First Year Premium at Rs 1,553 crore, grew 23%. Gross Written Premium: Rs 6,397 crore, up 18% YoY. VNB (measure of profitability) at Rs 335 crore, up 32% YoY; New business margin improved by 260 bps to 20.1%. Embedded Value at Rs 26,478 crore, grows 20% with an Operating RoEV of 14.3%. Individual New Business Sum Assured grew by 26%. Assets Under Management (AUM) at Rs 1,83,211 crore, up by 14%. New retail policy sales increase by 10%. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said: "We have started the fiscal on a positive momentum, achieving a 23% YoY increase in Individual Adjusted First Year Premium. This robust growth is built on a foundation of a balanced product mix, a wide-reaching and diversified distribution network, and a relentless focus on innovation to meet the emergent customer needs. Our New Business Margin improved significantly to 20.1% in the first quarter, while the Value of New Business (VNB) saw a 32% year-on-year growth reflecting a proactive and strategic market approach, delivering a 121 basis point gain in Axis Max Life’s private industry market share. This performance not only demonstrates our operational efficiency but also the ability to generate sustainable, long-term value. As we move forward, our aspiration is clear and ambitious: to continue outpacing the industry growth while marching towards the goal of being among the top 3 private life insurers in India." Result PDF
Conference Call with Max Financial Services Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.