Live Breaking News & Updates on Ccelerate Partnership Channels Growth And Improve Market Share Quot Max Financial Services Limited Mfsl Is Part Of India 39s Leading Business Conglomerate The Group Focused On Life Insurance

Noida (Uttar Pradesh) [India], October 20 (ANI/NewsVoir): Max Financial Services Limited (MFSL) today announced its financial results for the second quarter (Q2) and H1 (first half) of the financial year FY23. In the first half of the FY23, MFSL Consolidated Revenue^ of Rs 9,720 Crore, with growth of 12 per cent and Consolidated PAT at Rs 130 Crore, up 56 per cent, due to lower tax expenses than corresponding previous half year. In Q2FY23, Consolidated Revenue^ at Rs 5,718 Cr, Up 9 per cent and Consolidated PAT at Rs 62 Cr, Up 29 per cent. During H1FY23, Max Life New Business Premium grew 9 per cent to Rs. 3,378 Cr and Annualised Premium Equivalent (APE) Up by 2 per cent to Rs 2,200 Cr driven by strong growth in proprietary channels. Proprietary channels new business premiums grew by 23 per cent year-on-year to Rs 773 Crore as result contribution of Proprietary channels to total new sales increased from 29 per cent to 33 per cent in H1FY23. Further, the renewal premium income (includi ....

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