For Q4 FY25, total Annualised Premium Equivalent (APE) rose 6% year-on-year to ₹3,039 crore, broadly in line with the CNBC-TV18 poll estimate of ₹3,038 crore. Retail APE grew 11% YoY to ₹2,977 crore.
The value of new business (VNB) came in at ₹882 crore, up 8% from ₹820 crore a year ago, and sharply ahead of the poll estimate of ₹792 crore. VNB margin improved by 45 basis points to 29.02%, beating the estimated 26.06%, driven by a favourable product mix and higher proprietary channel share.
For the full year FY25, Axis Max Life delivered robust growth across metrics. Proprietary channel APE rose 26%, while overall APE was up 18%, aided by 13% growth in Bancassurance channels.
Gross written premium stood at ₹33,223 crore, up 13% YoY. Embedded value rose 29% to ₹25,192 crore, with an operating return on embedded value (RoEV) of 19.1%.
The company’s AUM grew 16% to ₹1.75 lakh crore, while individual new business sum assured increased 31%.
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CEO and MD Prashant Tripathy highlighted strong execution across strategic levers—scaling proprietary distribution, deepening partnerships, and product innovation. Axis Max Life also launched four new fund offerings and introduced two new products, including a term plan and a ULIP with high sum assured options. It also on-boarded 44 new partners, including three Banca tie-ups, strengthening distribution.
Shares of Max Financial Services closed flat at ₹1,289.40 on Tuesday, down 0.37%.
