Max Life Insurance Company Ltd has announced its highest-ever participating bonus of Rs. 1,420Cr. for eligible policyholders in FY21-22. Max Life has surpassed the milestone of Rs. 10,000Cr. of declared bonus for participating customers since inception. This is the Company’s 20th consecutive annual bonus, 9.05% higher than the preceding fiscal year. The life insurer’s annual bonus has increased at a 5-year compound annual growth rate of more than 11%. The declared annual bonus will be added to approximately 21 lac eligible participating policyholder’s benefits, aiding their long-term financial goals.
The life insurer has also strengthened participating propositions that made up 34% of the proprietary channel product mix in FY21. Max Life’s participating fund has reached approximately Rs. 54,650Cr. of assets under management. With a 5-year CAGR of 21%, Max Life’s participating fund is amongst the top participating fund (by size) in the privat
e life insurance space. Over the past year, Max Life’s individual annual premium equivalent grew by 12% to Rs. 5,514Cr. in FY22.
Prashant Tripathy, MD & CEO, Max Life said, “Despite pandemic-related challenges and its effect on markets, Max Life delivered strong business outcomes and declared the highest-ever policyholder bonus by maintaining a focused approach towards sustainable and organic growth.”
