Q1 2026 Max Financial Services Ltd Earnings Call Transcript
Key Points
- Max Financial Services Ltd (BOM:500271) reported a strong start to FY26 with a 23% growth in individual adjusted first-year premium, significantly outperforming the private sector growth of 8% and the overall industry growth of 5%.
- The company achieved a 32% growth in the value of new business, with margins expanding from 17.5% in FY25 to 20.1% in Q1 FY26.
- Axis Max Life Insurance was ranked among the top 25 best workplaces in BFSI 2025, reflecting a strong organizational culture.
- The company launched an innovative product, Smart Wipe, which contributed to a 36% growth in the protection segment and helped rebalance the product mix.
- Max Financial Services Ltd (BOM:500271) demonstrated strong digital initiatives, including the launch of the Axis Maxife app, enhancing customer engagement and operational efficiency.
- The company's consolidated profit after tax was impacted, standing at 86 crores, due to strains from strong new business sales momentum.
- There was a noted decline in the 13-month persistency rate, which stood at 86% compared to 87% in the previous year.
- The online annualized premium equivalent (AP) remained flat, attributed to a large base of ULIP sales in the previous year.
- The company experienced a de-growth in the health product segment due to regulatory changes affecting consumer appeal.
- There is ongoing uncertainty regarding the insurance bill and potential changes in regulations, which could impact future operations.
Ladies and gentlemen, good day and welcome to Max Financial Services Limited, Q1 FY26 earnings conference call. As a reminder, all participant lines will be in the less only mode, and there will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during this conference call, please signal an operator by pressing 0 on your touchtone phone. Please note that this conference is being recorded.
I now have the conference over to Mr. Amrit Singh from Max Financial Services Limited. Thank you and over to you.
Sir. Morning everyone. Thank you for joining our call today morning, for, results June 2025. We had provided our presentations on the websites and also on the exchange last evening.
As always, joining me today, Mr. Vanyarti, managing director and CEO of Access Maxife Insurance, Sumit Madan, Chief Distribution Officer of Access Maxife Insurance, and Nishan Kumar, CFO of MFSL. I would, first, invite Tishan to just walk us
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