Max Life sees 14% growth in new premiums

The company records new business premium of Rs 1,693 cr

Private life insurance company Max Life has seen a 14% growth in new business premiums during the first nine months of the financial year 2014-15. 

The company has recorded new business premium of Rs 1,693 crore, while the gross written premium of the Company grew 12% to Rs 5,447 crore.

During the period Shareholder Profit After Tax stood at an impressive Rs 308 crore, which was down by 5% compared to April to December period 2013.

In April to December 2013, Max Life had shareholder profit after tax of Rs 326 crore. The company said that 6this decline in shareholders' profit is in line with the company's overall strategy of optimising its product mix.

Rajesh Sud, CEO & Managing Director, Max Life Insurance said, "Going forward, we are confident of a sustained growth for Max Life Insurance as we continue to differentiate in the market place basis our advice based sales, balanced product portfolio, diversified distribution and superior customer experience through superior claims and complaint management."