Max Life Insurance has progressed well on all business parameters in the Financial Year 2017-18 and has further strengthened its position due to its continued focus on building a successful life insurance business to deliver the core value of long-term savings and protection.
- Gross written premium of the company grew 16% to Rs. 12,501 crore
- Shareholders profit after tax at Rs. 528 crore
- Assets under management increased by 18% to Rs. 52,237 crore
- Solvency ratio of 275%, 1.83 times more than the mandatory 150% indicating the company’s strong and stable financial position
- Conservation ratio at 89.6% and 13th month persistency at 80.5%
- Policyholder bonus of Rs. 1084 crore
- Sum assured in force at Rs. 511,541 crore, recorded an increase of 35% over the previous financial year
- Expenses of management to gross direct premium ratio is at 20% in FY 2017-18, decreasing 3% from FY 2016-17
- In FY 2017-18 our grievance incidence rate was 93 per 10000 policies
- In FY 2017-18 we have paid 98.26% claims on individual business policies and 99.01% on group business policies
Max Life Insurance continues to differentiate itself in the market place based on its advice based sales, diversified distribution architecture and comprehensive product portfolio which has helped it achieve a profitable growth.
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