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Max Financial Services
Max Financial Services (MFSL) investor relations material
Max Financial Services Corporate presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Corporate presentation summary18 Mar, 2026
Market positioning and scale
Holds approximately 10% private market share, ranking #1 in claims paid ratio and #3 in individual retail sum assured.
Assets under management reached ~INR 1.9 trillion, making it the 4th largest among private life insurers.
Distribution network includes 585 own branches, 12,200+ partner branches, and ~154,000 agents.
Covers ~27 trillion sum assured in-force and insures ~20 million lives.
Financial performance and growth
Achieved a 5-year CAGR of 15% in individual new business and 21% in AUM.
Value of new business grew 30% YoY to INR 16.33 billion in 9M FY'26; new business margin improved to 23.6%.
Embedded value reached INR 281.1 billion, with a 5-year CAGR of 20%.
Gross written premium rose 18% YoY to INR 155.51 billion in 9M FY'26.
Solvency ratio at 201%, well above regulatory requirements.
Product and channel strategy
Balanced product mix with strong growth in annuity (107%), protection & health (57%), and NPAR savings (18%) in 9M FY'26.
Proprietary channels grew at a 24% CAGR (FY20–FY25), with online channels growing at 60% CAGR.
Partnership channels remain strong, contributing significantly to APE and policy sales.
Focus on long-term protection and health, with retail protection and health APE more than doubling in five years.
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Latest events from Max Financial Services
- Premiums and VNB surged, margins rose, and a major merger and digital growth advanced.MFSL
Q3 25/2612 Feb 2026 - Premiums up 18%, VNB up 27%, solvency at 208%, and margins remain strong.MFSLQ2 25/263 Feb 2026
- Q1 FY25 saw strong revenue and profit growth, with Axis Bank's capital infusion boosting solvency.MFSLQ1 24/252 Feb 2026
- Revenue and premiums rose double digits, VNB up 16%, Axis Bank stake at 19.02%.MFSLQ2 24/2519 Jan 2026
- Revenue and VNB rose, with strong channel growth but margin pressure from product mix.MFSLQ3 24/259 Jan 2026
- Revenue up 18%, VNB up 32%, and claims paid ratio at 99.70%.MFSLQ1 25/267 Jan 2026
- FY25 profit at ₹403 crore, 20% premium growth, 24% margin, and Axis Bank stake at 19.02%.MFSLQ4 24/257 Jan 2026
Next Max Financial Services earnings date
Q4 25/2612 May, 2026
Max Financial Services
Next Max Financial Services earnings date
Q4 25/2612 May, 2026
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