Public Disclosures

 

Max Life Insurance has progressed well on all business parameters in the Financial Year 2021-22 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 18% to Rs. 22,414 crore.
  •     Shareholders profit after tax at Rs. 387 crore.
  •     Assets under management increased by 19% to Rs. 107,510 crore.
  •     Solvency ratio of 201%, 1.34 times more than the mandatory 150% indicating the company’s strong and stable financial position.
  •     Conservation ratio at 85% and 13th month persistency at 85%.
  •     Policyholder Bonus Paid at Rs. 1,181 crore.
  •     Sum assured in force at Rs. 1,174,515 crore, recorded an increase of 8% over the previous financial year. 
  •     Expenses of management to gross direct premium ratio stood at 20%.
  •     Grievance incidence rate was 40 per 10,000 policies for the year.
  •     We have paid 99.34% claims on individual business policies and 99.41% claims on group business policies.

 

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