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Max Life assets under management crosses Rs 1.5 lakh crore for the first time
15-Apr-24   17:37 Hrs IST

Max Life Insurance has crossed the Rs 1.5 lakh crore mark in assets under management (AUM) as of March 31, 2024. This represents a growth rate of over 20% year-on-year.

The company has seen a 1.5x increase in AUM since September 2021 and growth in AUM can be attributed to Max Life's customer-centric approach, robust distribution channels, and continuous product innovation, supported by a tech-first strategy, the company said.

According to public disclosures, Max Life's gross written premium(GWP) rose 16% to Rs 18,793 crore in first nine months of FY24, with renewal premium increasing by 12% to Rs 11,823 crore.

The total annual premium equivalent (APE) grew by 23% to Rs 4,561 crore.

Claim settlement ratio of the company for the period of 2022-23 stands at impressive 99.51%.
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