Max Financial Services Limited has reported a significant growth in its financial performance for the first half of the fiscal year 2027, marking a 16% increase in consolidated revenue excluding investment income, which amounted to ₹17,484 crores. Including investment income, the consolidated revenue reached ₹26,582 crores, representing a 17% year-on-year growth. The company also recorded a substantial rise in its profit after tax, which stood at ₹219 crores, up by 137% compared to the previous year.
Axis Max Life Insurance Limited, a subsidiary of Max Financial Services, showcased a strong performance with its Individual Adjusted First Year Premium increasing by 12% to ₹4,368 crores. The company maintained a private market share of 10.1% during this period. The Value of New Business (VNB), a key profitability measure, grew by 21% year-on-year to ₹1,180 crores, while the VNB margin improved by 210 basis points to 25.4%, driven by strong demand in the protection and retirement segments.
In addition to its new business growth, Axis Max Life reported an 18% increase in renewal premiums, amounting to ₹11,247 crores, which contributed to a 17% rise in Gross Written Premium, totalling ₹18,066 crores. The company launched the Smart Retirement Income with Sustained Earnings Plan, which significantly boosted its annuity business by 130% year-on-year in the second quarter of FY’27. With Assets Under Management reaching ₹2.06 lakh crores, up by 11%, and an Embedded Value of ₹31,437 crores, reflecting a 17% growth, Axis Max Life continues to strengthen its market position.
Analysts view the company’s performance as a reflection of its robust distribution network and strategic focus on customer-centric growth. The improvement in the product mix and operational efficiencies has positively impacted the company’s profitability metrics. The market anticipates further growth as Axis Max Life continues to innovate and expand its offerings in line with evolving industry dynamics and regulatory frameworks.
