Max Financial FY'26 Revenue Up 17%; Axis Max Life VNB Jumps 26%

Max Financial Services Ltd reported a 17% YoY growth in consolidated revenue excluding investment income for FY'26, reaching ₹38,039 crores. Axis Max Life's Individual Adjusted First Year Premium grew by 19% YoY to ₹9,885 crores, increasing its private market share by 56 bps to 10.4%. The Value of New Business (VNB) for Axis Max Life increased by 26% YoY to ₹2,647 crores, with new business margins improving to 25.2%. Assets Under Management (AUM) stood at ₹1.89 lakh crores, up 8% YoY.