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Axis Max Life announced its FY25 results
26 May 2025
- Financial Performance (FY25 vs FY24): Axis Max Life Insurance demonstrated a solid financial performance in FY25. Gross Written Premium (GWP) rose by 12.5% to ₹33,223 Cr from ₹29,529 Cr in FY24, driven by growth across segments. The company’s consolidated revenue (excluding investment income) grew by 12% to ₹32,620 Cr, while total revenue including investment income reached ₹46,497 Cr. Profit before tax increased 19.5% to ₹448 Cr (from ₹375 Cr), and net worth surged by 53.2% to ₹6,124 Cr. The company reported a Value of New Business (VNB) of ₹2,107 Cr, up 6.8%, although the New Business Margin (NBM) declined slightly to 24.0% from 26.5%. AUM witnessed a robust growth of 16.1%, reaching ₹1,75,072 Cr from ₹1,50,836 Cr, supported by strong inflows and market performance. The solvency ratio improved markedly to 201% from 172%, indicating strong capital adequacy and financial resilience.
- Operational Metrics (FY25 vs FY24): Operationally, Axis Max Life continued to strengthen its fundamentals. Individual Adjusted First Year Premium (FYP) climbed 19.6% to ₹8,329 Cr, outperforming private industry growth. Policies sold increased to 794,000, up 11.1% YoY and the Individual Sum Assured for new business grew by a significant 31.3% to ₹3,83,670 Cr. Persistency ratios improved notably—25th month persistency rose by 380 bps to 74%, reflecting stronger customer retention. The Retail Protection and Health APE (Annualized Regular Premium) rose by 35% to ₹896 Cr, and Rider APE grew more than 300%, improving the Rider Attachment Ratio to 43% (vs 34% in FY24). Operational efficiency also improved with the policyholder expense-to-GWP ratio reducing to 13.6% from 13.8%. The company further strengthened its distribution network by onboarding 44 new partners and maintained leadership in the online insurance space with Rank #1 in both Protection and Savings.
- Future Outlook: Axis Max Life is well-positioned for steady growth by leveraging digital technology, a strong financial base, and diverse sales channels. It aims to accelerate growth in online/direct sales, protection, health insurance, and retirement products. Key focuses include improving customer retention, using AI for policy and claims processing, and launching flexible plans like Smart Term Plan Plus and market-linked ULIPs. Management targets nearly tripling key business areas in five years while maintaining strong profitability.
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