Max Life Insurance's Asset Under Management (AUM) touches Rs 50,000 crore
The company recorded CAGR of 19.5% over the last three years.
Max Life Insurance Company's Assets Under Management (AUM) has touched Rs 50,000 crore mark. Over the last three years, the company's AUM has grown at a Compounded Annual Growth Rate (CAGR) of 19.5%.
The company says the growth 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.
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."
He added, "In recent years, we have created investment capabilities in specialised 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."