Conference Call with Max Financial Services Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Life Insurance firm Max Financial Services announced Q3FY23 results: Q3FY23: Max Financial completed the acquisition of a 5.17% stake in Max Life from MSI in Dec 22. Post-acquisition, Max Financial shareholding in Max Life increased to 87% Agreements amended with Axis Bank for the right to acquire the balance 7% stake sale of Max Life at fair market value New business premium: Rs 5,640 crore, up 7%; proprietary channels grew 19% Embedded value at Rs 15,547 crore; operating RoEV improved by 140 bps to 19.5% New business margin (NBM) at 31.8%, up 670 bps Value of new business at Rs 1,179 crore, up 25% Assets under management (AUM) at Rs 1,18,400 crore, up 16% Prashant Tripathy, Managing Director, Max Life Insurance Company Limited, said, "Through the introduction of new innovative products, secular growth across proprietary channels, and a balanced product mix, we achieved strong growth in Q3FY23. In addition, to accelerate bancassurance channel growth, we are focused on continuous growth through strategic partnerships and improved market share." Result PDF