Max Life Records New Business Premium Growth of 14%

Ludhiana, February , 2015: Max Life Insurance continued its growth journey during the first 9 months of the Financial Year 2014-15. The Company has recorded New Business Premium  of Rs. 1,693 crore,  growth of  14% over the corresponding period last year. The Gross Written Premium of the Company grew 12% to Rs.5,447 crore. During the period Shareholder Profit After Tax stood at an impressive Rs.308 crore.

Max Life Insurance also performed well on other business parameters for its quarter as compared to corresponding period previous year. Company’s Assets Under Management (AUM) increased by 26% to Rs. 29,262 crore from December 2013. Max Life Insurance is one of the lowest customer complaints incidence at 0.19 complaints per thousand policies.

According to Rajesh Sud, CEO & Managing Director, Max Life Insurance, "I am delighted that Max Life Insurance performed well on all parameters.  The company has demonstrated superior all round performance and has maintained its position as one of the largest non bank promoted private life insurance player in India with a stable market share amongst private life insurers.”