Factuary

Axis Max Life Insurance Insurance Data

lifeIRDAI Reg. 104

Formerly Max Life Insurance; joint venture between Axis Bank and Max Financial Services.

HQ: New Delhi
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IRDAI Disclosures ↗

Axis Max Life Insurance is a life insurance company licensed by IRDAI (registration number 104). Its solvency ratio of 1.98× as of Q1 FY26-27 exceeds the IRDAI mandatory minimum of 1.5×, ranking 14th among 25 life insurers. The company reported gross written premium of ₹33223 crore in FY24-25, ranking 5th by premium among 25 life insurers. Its claims settlement ratio of 97.1% in Q1 FY26-27, placing it 2nd among 10 life insurers with available data. Its 13th-month premium persistency ratio was 81.0% in Q1 FY26-27.

Peer rank among life insurers with data for that metric. Not shown when fewer than 3 peers have data.

Premium

gross written premium₹33,223 croreFY24-25Statement-3

Solvency

solvency ratio1.98×Q1 FY26-27L-22-ANALYTICAL-RATIOS

Claim Settlement

claim settlement ratio97.1%Q1 FY26-27L-40-CLAIMS-DATA

Persistency

49th month persistency ratio58.0%Q1 FY26-27L-22-ANALYTICAL-RATIOS
37th month persistency ratio64.0%Q1 FY26-27L-22-ANALYTICAL-RATIOS
25th month persistency ratio72.0%Q1 FY26-27L-22-ANALYTICAL-RATIOS
61st month persistency ratio58.0%Q1 FY26-27L-22-ANALYTICAL-RATIOS
13th month persistency ratio81.0%Q1 FY26-27L-22-ANALYTICAL-RATIOS
13th month persistency by policy count83.0%FY24-25Handbook-Table-28
25th month persistency by policy count75.0%FY24-25Handbook-Table-28
49th month persistency by policy count60.0%FY24-25Handbook-Table-28
37th month persistency by policy count68.0%FY24-25Handbook-Table-28
61st month persistency by policy count52.0%FY24-25Handbook-Table-28

Financial Position

net worth₹6,124 croreFY24-25Handbook-Table-26

Distribution by Channel

Individual Agents policies1,20,562FY24-25Handbook-Table-100
Direct premium₹2,043.01 croreFY24-25Handbook-Table-100
Direct policies91,456FY24-25Handbook-Table-100
Referrals premium₹0.00 croreFY24-25Handbook-Table-100
Bank Channel policies3,24,212FY24-25Handbook-Table-100
POS premium₹0.00 croreFY24-25Handbook-Table-100
Web Agg. premium₹8.49 croreFY24-25Handbook-Table-100
IMF premium₹54.69 croreFY24-25Handbook-Table-100
Brokers policies1,76,313FY24-25Handbook-Table-100
MI Agents premium₹0.00 croreFY24-25Handbook-Table-100
POS policies0FY24-25Handbook-Table-100
Corp. Agents (Other) policies16,772FY24-25Handbook-Table-100
CSCs premium₹0.00 croreFY24-25Handbook-Table-100
Individual Agents premium₹1,986.70 croreFY24-25Handbook-Table-100
Online premium₹206.00 croreFY24-25Handbook-Table-100
Others premium₹0.00 croreFY24-25Handbook-Table-100
Referrals policies0FY24-25Handbook-Table-100
Corp. Agents (Other) premium₹147.16 croreFY24-25Handbook-Table-100
IMF policies3,239FY24-25Handbook-Table-100
Others policies0FY24-25Handbook-Table-100
Online policies60,437FY24-25Handbook-Table-100
Web Agg. policies2,362FY24-25Handbook-Table-100
MI Agents policies0FY24-25Handbook-Table-100
CSCs policies0FY24-25Handbook-Table-100
Bank Channel premium₹5,390.46 croreFY24-25Handbook-Table-100
Brokers premium₹773.13 croreFY24-25Handbook-Table-100

Lapse & Surrender

lapse and surrender ratio2.9%FY24-25Handbook-Table-27

Other Claims

claims repudiation ratio0.09%Q1 FY26-27L-40-CLAIMS-DATA
claims settled in 1 to 3 months4.5%FY24-25Handbook-Table-18
claims settled in 6 to 12 months0.0%FY24-25Handbook-Table-18
claims settled in 3 to 6 months1.0%FY24-25Handbook-Table-18
claims paid within 1 month94.4%FY24-25Handbook-Table-18
claims settled after 1 year0.0%FY24-25Handbook-Table-18

Other

Bank Channel schemes20FY24-25Handbook-Table-102
Online lives0FY24-25Handbook-Table-102
IMF schemes0FY24-25Handbook-Table-102
Bank Channel lives30,37,217FY24-25Handbook-Table-102
Individual Agents premium₹1.90 croreFY24-25Handbook-Table-102
Direct lives11,80,722FY24-25Handbook-Table-102
Web Agg. premium₹0.00 croreFY24-25Handbook-Table-102
Direct premium₹339.84 croreFY24-25Handbook-Table-102
POS schemes0FY24-25Handbook-Table-102
Others schemes0FY24-25Handbook-Table-102
Corp. Agents (Other) schemes24FY24-25Handbook-Table-102
Corp. Agents (Other) lives3,58,649FY24-25Handbook-Table-102
Online premium₹0.00 croreFY24-25Handbook-Table-102
MI Agents schemes0FY24-25Handbook-Table-102
Brokers schemes298FY24-25Handbook-Table-102
Individual Agents schemes21FY24-25Handbook-Table-102
POS lives0FY24-25Handbook-Table-102
Direct schemes75FY24-25Handbook-Table-102
Brokers premium₹168.99 croreFY24-25Handbook-Table-102
Bank Channel premium₹681.57 croreFY24-25Handbook-Table-102
Web Agg. lives0FY24-25Handbook-Table-102
IMF lives0FY24-25Handbook-Table-102
POS premium₹0.00 croreFY24-25Handbook-Table-102
Corp. Agents (Other) premium₹371.65 croreFY24-25Handbook-Table-102
Online schemes0FY24-25Handbook-Table-102
Web Agg. schemes0FY24-25Handbook-Table-102
IMF premium₹0.00 croreFY24-25Handbook-Table-102
Individual Agents lives3,483FY24-25Handbook-Table-102
CSCs lives0FY24-25Handbook-Table-102
MI Agents premium₹0.00 croreFY24-25Handbook-Table-102
CSCs schemes0FY24-25Handbook-Table-102
MI Agents lives0FY24-25Handbook-Table-102
Others premium₹0.00 croreFY24-25Handbook-Table-102
Brokers lives6,59,374FY24-25Handbook-Table-102
CSCs premium₹0.00 croreFY24-25Handbook-Table-102
Others lives0FY24-25Handbook-Table-102
ULIP commission paid₹581.63 croreFY24-25Handbook-Table-13
traditional plan commission paid₹2,563.26 croreFY24-25Handbook-Table-13

Data from IRDAI public disclosures. Click a metric name for full history and provenance.

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