Max Life Insurance Declares Highest-ever PAR Bonus of Rs. 1,420 Cr. for FY21-22

Max Life Insurance Company Ltd. (“Max Life” / “Company“), has introduced its highest-ever taking part (PAR) bonus of Rs. 1,420 Cr. for eligible policyholders in FY21-22. With this, Max Life has surpassed the milestone of Rs. 10,000 Cr. of declared bonus for taking part prospects since inception. This is the Companys twentieth consecutive annual bonus, 9.05% larger than the previous fiscal yr. The life insurer’s annual bonus has elevated at a 5-year compound annual progress fee (CAGR) of greater than 11%.

The declared annual bonus can be added to roughly 21 lac eligible taking part policyholder’s advantages, aiding their long-term monetary objectives. Max Life has constantly introduced bonuses for eligible policyholders constantly over the previous 20 years that underlines its dedication to prospects and superior risk-adjusted return focus.

Prashant Tripathy, MD & CEO, Max Life mentioned, “Despite pandemic-related challenges and its impact on markets, Max Life delivered robust enterprise outcomes and declared the highest-ever policyholder bonus by sustaining a targeted method in direction of sustainable and natural progress. It is a mark of our extremely aggressive fund administration capabilities that now we have been in a position to surpass the Rs. 10,000 Cr. milestone of declared bonus since inception.”

Over the previous yr, Max Life has been on the forefront of driving product innovation and creating first-in-industry propositions. The life insurer has additionally strengthened taking part propositions that made up 34% of the proprietary channel product combine in FY21. Max Life’s taking part fund has reached roughly Rs. 54,650 Cr. of property underneath administration (AUM) and has grown over 12 instances in a decade. With a 5-year CAGR of ~21%, Max Life’s taking part fund is amongst the highest taking part fund (by measurement) within the non-public life insurance coverage house. The debt property of taking part fund have yielded constant and secure returns over the past 5 years. Over the previous yr, Max Lifes particular person annual premium equal (APE) grew by 12% to Rs. 5,514 Cr. in FY22.

About Max Life Insurance (www.maxlifeinsurance.com)

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is part of the Max Group, an Indian multi-business company. Max Life presents complete safety and long-term financial savings life insurance coverage options, by means of its multi-channel distribution together with company and third-party distribution companions.

Max Life has constructed its operations over 20 years by means of a need-based gross sales course of, a customer-centric method to engagement and repair supply and educated human capital. As per public disclosures and annual audited financials for FY 2021-22, Max Life has achieved a gross written premium of INR 22,414 crore. As of thirty first March 2022, the Company had INR 1,07,510 crore of Assets Under Management (AUM) and a Sum Assured in Force of INR 1,174,515 crore.

For extra data, please go to the Companys web site at www.maxlifeinsurance.com.

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