Max Financial Services Limited — PPTs, 13-08-2026: Investor Presentation

Max Financial Services (MFSL) saw Q1FY27 consolidated revenue, including investment income, jump 17% to Rs 14,977 Cr, with consolidated Profit After Tax at Rs 118 Cr. Individual Adjusted First Year Premium grew 17% to Rs 1,810 Cr, outpacing private industry growth. Value of New Business (VNB) soared 33% to Rs 446 Cr, with New Business Margin (NBM) at 23.2%. Assets Under Management (AUM) hit a significant milestone of Rs 2 lakh Cr.

Growth was fueled by robust performance in proprietary channels (up 15%, led by 27% online growth) and partnership channels (up 16%, with Axis Bank contributing 14%). Key segments like Retail Protection & Health APE surged 44% to Rs 314 Cr, and Annuity APE more than doubled to Rs 246 Cr. Axis Bank completed its transaction, investing Rs 381 Cr to increase its stake in Max Life to 19.99%. Max Life launched new products, including a USD-denominated ULIP. Operating Return on Embedded Value (RoEV) stood at 14.9%. Management emphasizes a continued focus on predictable and sustainable growth, product innovation, digital efficiency, and strong customer focus.