Max Financial Services Reports 137% Surge In H1 FY27 PAT, Consolidated Revenue Grows 16%; Axis Max Life VNB Up 21%

Mumbai: Max Financial Services Limited announced on October 27, 2026, that its consolidated PAT for H1 FY27 increased by 137% to ₹219 crore. The company's consolidated revenue, excluding investment income, rose by 16% year-on-year (YoY) to ₹17,484 crore.

Axis Max Life Performance

Axis Max Life Insurance Limited reported a 12% growth in Individual Adjusted First Year Premium (IAFYP) to ₹4,368 crore in H1 FY27. The company's private market share stood at 10.1% for the period.

Value of New Business

The Value of New Business (VNB) for Axis Max Life increased by 21% YoY to ₹1,180 crore in H1 FY27. The VNB margin expanded by 210 basis points to 25.4%, driven by growth in protection and retirement segments.

Gross Written Premium

Gross Written Premium (GWP) for Axis Max Life increased by 17% YoY to ₹18,066 crore. Renewal premium also grew 18% YoY to ₹11,247 crore in H1 FY27.

Embedded Value and AUM

The company's Embedded Value stood at ₹31,437 crore as of September 30, 2026, representing a 17% YoY growth. Assets Under Management (AUM) reached ₹2.06 lakh crore, an increase of 11%.

Management Commentary

Sumit Madan, Managing Director and CEO, Axis Max Life, said the H1 FY27 performance reflected the strength of the distribution franchise and disciplined execution. Amrit Singh, Chief Financial Officer, Axis Max Life, noted that an improved product mix supported the VNB margin and 21% VNB growth.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.