Max Financial Services Q1 profit rises 37 pc to Rs 118 cr

New Delhi, Aug 13 (PTI) Max Financial Services, the holding company of Axis Max Life Insurance, on Thursday reported a 37 per cent jump in consolidated profit to Rs 118 crore in the first quarter ended June 2026.

The company had earned a consolidated net profit of Rs 86 crore in the year-ago period.

Total income on a consolidated basis also rose to Rs 14,977 crore during the June quarter of FY27 as against Rs 12,825 crore in the corresponding quarter a year ago, Max Financial Services said in a regulatory filing.

Total expenses increased to Rs 14,839 crore from Rs 12,723 crore recorded in the first quarter of FY26.

During the reporting quarter, Axis Max Life Insurance reported new business growth (Individual Adjusted First Year Premium) of 17 per

cent to Rs 1,810 crore.

The Value of New Business, a measure of profitability, experienced a growth of 33 per cent.

Additionally, Axis Max Life’s individual renewal premium grew by 20 per cent to Rs 4,639 crore, taking the gross written premium to Rs 7,607 crore, a 19 per cent increase over the first quarter of the previous financial year.

However, solvency margin declined to 198 per cent from 199 per cent recorded in the same quarter a year ago. PTI DP HVA