This superior growth in AUM has been made possible through consistent growth in new business, increased customer retention and robust investment performance. The Company recorded First Year Premium (Individual + Group) of Rs. 3,666 crore achieving growth of 27% in the Financial Year 2016-17 (FY17). During this period the Gross Written Premium (Renewal + First Year Premium) of the Company grew by 17% to Rs. 10,780 crore, while the renewal premium recorded growth of 12% to 7,114 crore.
Talking about the achievement, Mr. Rajesh Sud, Vice Chairman and Managing Director of Max Life Insurance said, “We are delighted to share that over the last three years, we have almost doubled our AUM. We take great pride in this achievement. This truly reflects the faith of the customers in Max Life Insurance and reiterates our strong presence in the Indian life insurance sector. The credit definitely goes to our team of analyst and fund managers, who have deep understanding of various industries and asset classes to take the most appropriate long-term investment decisions.”
He further said, “In recent years, we have created investment capabilities in specialized asset classes such as Real Estate, Alternate Investment Funds, Additional Tier1 Bonds and Infrastructure Investment Trusts. These new capabilities will help us provide superior returns to our policyholders. Max Life Insurance is also the first life insurance company to use fixed-income derivatives to hedge guaranteed products.”
Max Life is confident of its investment strategies which will benefit its customers at all life stages. Commenting on the robust investment plans, Mr. Mihir Vora, Director and Chief Investment Officer, of Max Life Insurance said, “Our high levels of persistency ensure steady accretion in our asset base. This enables us to take long-term calls in line with our well-defined investment philosophy to optimize the risk-adjusted returns for our customers.”
Powered by WPeMatico