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Public Disclosures

Max Life Insurance has progressed well on all business parameters in the Financial Year 2023-24 and has further strengthened its position owing to its continued focus on building a successful life insurance business to deliver the core value of long-term savings and protection.

The gross written premium of the company grew 17% to Rs. 29,529 crores
Shareholders profit after tax at Rs. 360 crores
Assets under management increased by 23% to Rs. 150,836 crores
The solvency ratio of 172%, 1.15 times more than the mandatory 150%, indicates the company’s strong and stable financial position
Conservation ratio at 93% and 13th-month persistency at 89%
Policyholder Bonus Paid at Rs. 1,436 crores
Sum assured in force at Rs. 1,779,409 crores, recorded an increase of 27% over the previous financial year
Expense of management to gross direct premium ratio stood at 22%
Grievance incidence rate was 44 per 10,000 policies for the year
We have paid 99.65% claims on individual business policies and 99.54% claims on group business policies

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