Max Life registered 9 percent growth in first quarter

Ludhiana, August 7, 2014: Max Life Insurance today announced it Quarterly Results for the period ended June 30th 2014. The company continued its profitable growth journey during the first quarter of the Financial Year 2014-15 and has outperformed the industry as well as the private life insurers to record New Business Premium of Rs. 468 crore, growth of 22% over the corresponding period last year. Max Life Insurance further increased its market share to 12.3%,
Max Life Insurance also performed well on other business parameters during Q1 FY 2014-15 as compared to corresponding period in the previous year. Company’s Assets Under Management increased by 25% to Rs.26,697 crore as on June 2014
According to Rajesh Sud, CEO & Managing Director, Max Life Insurance said, " I am happy to share with you our performance for the Q1 (April – June 2014) of the financial year 2015. We have responded extremely well to the uncertain and challenging external environment and demonstrated superior all round performance and have been able to remain steady as the largest non bank promoted life insurance player in India. This has been made possible due to our continued focus on building a successful life insurance business to deliver the core value of long-term savings and protection in a Life Insurance contract.”