Max Life's PBT up 17% at Rs. 8.6bn

India Infoline News Service | Mumbai |

Gross written premium up 4% to Rs66.39 bn; assets under management up 19% to Rs204.58 bn

Private insurer Max Life Insurance on Wednesday said that its profit before tax rose 17% to Rs. 8.6 billion in FY12-13 over the previous financial year.

Gross written premium of the company grew 4% to Rs. 66.39 billion. Max Life declared dividend of Rs. 2.59 billion and bonus of Rs. 2.97 billion to participating policyholders, a 5%-7.5% upward revision from previous year.

Max Life's assets under management increased by 19% to Rs. 204.58 billion in FY13. The company’s solvency ratio is 521% as of now.  The company has paid 94.3% of its claims during the year amounting to Rs. 2.33 billion.
 

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