Max Financial Services Limited (MFSL), a key player in India's life insurance sector, has reinforced its commitment to robust growth during a recent conference call update. The management of Max Financial has confirmed their growth outlook of 15-17% for the fiscal year 2026, signaling confidence in the company's strategic direction and market position.

Strong Performance in H1 FY26

The reaffirmation of the growth outlook comes on the heels of impressive first-half results for FY26:

• Consolidated revenue (excluding investment income) grew by 18% year-on-year to ₹15,090.00 crores
• Individual Adjusted First Year Premium increased by 18% to ₹3,891.00 crores
• Gross Written Premium rose by 18% to ₹15,490.00 crores
• Value of New Business (VNB) saw a significant 27% growth

Key Financial Highlights

Max Financial's subsidiary, Axis Max Life Insurance, reported several notable achievements:

Market Share and Strategic Growth

Axis Max Life has outpaced the private life insurance industry, gaining 83 basis points in private market share to reach 10.1% in H1 FY26. This growth has been driven by:

• Robust performance in offline proprietary channels
• Successful scaling of new partnerships
• Onboarding of 31 new partners in H1 FY26 (16 retail and 15 group business partners)

Management Commentary

Sumit Madan, CEO and Managing Director of Axis Max Life, commented on the company's performance: "In the first half of FY'26, Axis Max Life continued to deliver strong growth in Individual Adjusted First Year Premium and Value of New Business, led by our proprietary channels and further supported by our partnership verticals. This has resulted in a market share of 10.1%, underscoring the strength of our balanced channel mix and our ability to nurture every relationship."

Future Outlook

The reaffirmation of the 15-17% growth outlook for FY26 suggests that Max Financial is confident in its ability to maintain its growth trajectory. The company's focus on expanding its distribution network, improving product mix, and enhancing customer-centric initiatives appears to be yielding positive results.

Conclusion

Max Financial's robust performance in H1 FY26 and the management's confident outlook for the full fiscal year indicate a positive trajectory for the company. With its strategic focus on balanced growth across channels and products, Max Financial seems well-positioned to capitalize on the growing life insurance market in India.

Max Financial Services Limited (MFSL), a key player in India's financial services sector, has announced the appointment of Mr. Pradeep Pant as an Additional Director (Non-Executive Independent Director) to its Board of Directors. The decision, approved by the company's Board on November 11, 2025, marks a significant addition to MFSL's leadership team.

Appointment Details

Mr. Pant's appointment is set for a five-year term, commencing on January 1, 2026, and concluding on December 31, 2030. This appointment is subject to shareholder approval, underscoring the company's commitment to corporate governance and stakeholder engagement.

About Pradeep Pant

Mr. Pant brings a wealth of experience to MFSL, with over 37 years in the FMCG industry. His career highlights include:

• Served as Executive Vice President and President of Asia Pacific and Eastern Europe, Middle East and Africa for Mondelez International until 2013
• Held leadership positions at Fonterra Brands, The Gillette Company, Nestle, J Walter Thompson, and the Tata group
• Founding President of Food Industry Asia (FIA) and currently serves as Honorary Advisor to the Council
• Advisory Board Member of SMU Lee Kong Chian School of Business from 2010 to 2018

Educational Background

Mr. Pant's academic credentials include:

• Master of Management Studies degree from Jamnalal Bajaj Institute of Management Studies, Bombay University
• BA Honours degree in Economics from Shri Ram College of Commerce, Delhi University

Current Roles

In addition to his new role at MFSL, Mr. Pant currently:

• Sits on the Supervisory Boards of Max India and Axis Max Life Insurance Ltd
• Serves as Chairman of Nurasa Pte Ltd, the Asia Sustainable Foods platform at Temasek, and its holding company Nurasa Holdings Pte Ltd

Implications for Max Financial Services

The appointment of Mr. Pant is expected to bring valuable insights and global perspective to MFSL's Board. His extensive experience in the FMCG sector and leadership roles in Asia Pacific and other international markets could contribute significantly to MFSL's strategic direction and growth initiatives.

Corporate Governance

MFSL has confirmed that Mr. Pant is not related to any other Director of the Company and is not debarred from holding the office of director by any regulatory authority. This appointment aligns with MFSL's commitment to maintaining a diverse and independent board composition.

The addition of Mr. Pant to the Board is part of MFSL's ongoing efforts to strengthen its corporate governance and bring in expertise that can guide the company through evolving market dynamics in the financial services sector.