Max Financial Q4 Review - Steady Performance; Non-Participating Policy Growth Remains Robust: Motilal Oswal
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Motilal Oswal Report
Max Financial Services Ltd. continues to demonstrate resilient performance amid a challenging macro environment, led by healthy (36%) annual premium equivalent growth, aided by robust growth in non-participating savings and recovery in the unit linked investment plan segment.
After witnessing robust protection growth over H1, the same moderated during H2 FY21.
Healthy product mix towards high margin segments and strong annual premium equivalent growth aided value of new business growth of 44% YoY during Q4 FY21.
Strong push via the bancassurance channel has aided premium growth, while the proprietary channel is showing healthy traction.
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