Max Life net profit up 9% in Q1

New business premium grows 22% to Rs. 468 cr

Private life insurer Max Life Insurance saw a 9 per cent rise in shareholder net profit to Rs 102 crore for first quarter ended June 30, 2014 compared to first quarter previous fiscal.   The company's new business premium saw a growth of 22 per cent to Rs 468 crore, over the corresponding period last year.

Max Life Insurance further increased its market share to 12.3 per cent, an increase of 74 bps amongst private life insurers and maintained its rank as the fourth largest private life insurer.