Axis Max Life Insurance reported a 17% year-on-year increase in its Individual Adjusted First Year Premium (FYP) to ₹1,810 crore for the first three months of FY27, while its Value of New Business (VNB) surged 33% to ₹446 crore. The strong performance was anchored by robust growth in protection, health, and annuity lines alongside significant expansion in new business margins.Strong Premium Growth Outpaces Private IndustryAxis Max Life Insurance Limited (formerly Max Life Insurance) achieved an Annualized Premium Equivalent (APE) growth of 15% year-on-year in 3M FY27, reaching ₹1,922 crore. The company’s Individual Adjusted FYP growth of 17% outpaced the broader private market average of 15%, expanding its market share among private life insurers by 13 basis points to 10.1%.Gross Written Premium: Rose 19% year-on-year to ₹7,607 crore.Renewal Premium: Expanded by 20% to ₹4,639 crore, demonstrating strong policy retention.Individual New Business Sum Assured: Climed 32% to ₹1,17,277 crore.Policies Sold: Increased 12% to 1.87 lakh individual policies.Parent entity Max Financial Services Limited (MFSL) recorded a 37% surge in consolidated Profit After Tax (PAT) to ₹118 crore, while consolidated revenue (including investment income) rose 17% to ₹14,977 crore.Margin Expansion Driven by High-Yield ProductsThe sharp 33% jump in Value of New Business (VNB) was primarily fueled by an aggressive shift toward margin-accretive products. Axis Max Life’s New Business Margin (NBM) expanded by 315 basis points to 23.2%, compared to 20.1% in the corresponding period last year.Product Segment3M FY27 APE (₹ Crore)3M FY26 APE (₹ Crore)YoY Growth (%)Annuity246114+116%Protection & Health314218+44%Participating (PAR)315213+48%ULIP713598+19%Non-PAR Savings291498-41%Retail protection and health products saw significant demand—guided by a 57% increase in rider attachments—while the Group Credit Life (GCL) segment grew 57% year-on-year.Broad-Based Distribution & Milestone AUMGrowth remained well-balanced across all distribution engines. Proprietary channels (online and offline) saw a 15% APE growth to ₹906 crore, led by a 27% surge in e-commerce business. Partnership channels expanded by 16% to ₹1,016 crore, bolstered by 14% growth via Axis Bank and a 21% rise across other corporate distribution partners.The life insurer crossed a major financial benchmark as total Assets Under Management (AUM) reached ₹2,02,621 crore, representing an 11% year-on-year increase. Meanwhile, Embedded Value (EV) rose 15% to ₹30,415 crore, pushing the Operating Return on Embedded Value (RoEV) to 14.9%.Management reiterated its commitment to continuous technological advancement, expanding digital ecosystem partnerships, and deepening customer engagement to drive sustainable, long-term shareholder value.Also Read :- Lenskart Stock Jumps 5% to All-Time High After Setting Up New China Subsidiary
