FUNDAMENTAL ANALYSIS OF MAX LIFE INSURANCE

Company Overview:-
Max Life Insurance Company Limited (formerly known as Max New York
Life Insurance Company Limited) is a life insurance company in India with a
joint venture (JV) between Max India Ltd and Axis Bank The company is a
subsidiary of the publicly listed Max Financial Services and is the largest non-
bank private-sector life insurer in India. It was founded in 2000 after the
liberalization of the insurance sector in India and its operations began in 2001.
Analjit Singh, founder of Max Healthcare, is the chairman of Max Life
Insurance.[1] Prashant Tripathy is Managing Director and Chief Executive
officer, the company is headquartered at New Delhi.

Industry Financial Services and

Insurance

Founded 2001

Headquarters New Delhi

Net income ₹440 crore

Total assets 65,825 crore

Website www.maxlifeinsurance.com

Business Model:-
Private life insurer Max Life Insurance Company has embarked on a journey
towards becoming an environment, social and governance (ESG)-focused
organisation, saidManaging Director and CEO Prashant Tripathy.  As part of its
efforts to get ESG-focused, Max Life Insurance has resolved that 75 per cent of
its existing ₹25,000-crore equity funds portfolio will be invested in ESG-
compliant companies by end-March 2023.  Moreover, 100 per cent of equity
portion of its shareholders funds (estimated at ₹3,000 crore) will be going
towards ESG. Max Life Insurance, which is now in the process of setting up a
subsidiary for pension fund management, expects this venture to come into play
in the second quarter this fiscal, Tripathy said. This subsidiary is being called
‘Max Life Pension Fund Management Ltd’ and has already got both PFRDA
and IRDAI approval to commence pension fund management business
operations.
Management:-
Prashant Tripathy
Managing Director & CEO at Max Life Insurance Company Limited
V Viswanand
Deputy Managing Director
Manu Lavanya
Chief Operations Officer Max Life Insurance , Global CxO, Digital
Transformation Executive and Organizational Change Leader
Rahul Talwar
Chief Marketing Officer
Kriti Arora
Vice President- Brand , Product & Platform Marketing 
Sachin Saxena
CRO of the Year 2020 (UBS Forums) || Corporate Risk Manager of the Year
2020 Finalist
Amrit Singh
CFO and EVP Strategy
Rakesh Pandey
EVP & Head Of Agency 
Mihir Vora
Chief Investment Officer & Senior Director
Sandeep Sharma
Zone Vice President – North
Shiv Maheswari
Director and Head - Distribution Capability and Enablement
Varun Gupt
Director & Head of Axis Partnership
Gaurav Uppal
Corporate Vice President & Head HR

Conpetitive advantages of Max Life Insurance:-

Comprehensive SWOT Analysis of Max Financial Services – India’s Largest
Non-bank, Private Life Insurance Company
the SWOT Analysis of the largest broadband communication company in the
United States, Spectrum. Here we will understand the SWOT Analysis of Max
Financial Services.
Max Financial Services Limited (MFS), a piece of the Max Group, is the
holding organisation for Max Life, India’s biggest non-bank, private life
insurance organisation. Max Financial Services Limited has been recorded on
the Bombay Stock Exchange as well as the National Stock Exchange. The
organisation’s financial backer base incorporates marquee worldwide monetary
foundations, for example, KKR, Baron, Wardship, New York Life, Vanguard,
Blackrock, Jupiter, Norges, Neuberger Burman, Eastspring, and Dimension.
Another aspect that made Max Financial Services the massive it is now, is its
marketing efforts. As the world goes online, marketing is changing and if you
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In this case study, we will learn about the SWOT analysis of Max Financial
Services. But first, let us know about the company and the product better.
Max Financial Services possesses and effectively deals with a greater part stake
in Max Life Insurance Company Limited, making it India’s initially recorded
organisation zeroed in solely on life coverage. Max Life is a joint endeavour
with Mitsui Sumitomo Insurance (MSI), a Japan-settled worldwide innovator in
extra security.
Competitors of Max Financial Services
Max Financial Services competes with many other life insurance companies.
The top 5 competitors of Max are –
 IWML
 Fino Payments
 Sundaram
 Delphi World
 Crest Ventures

Now, we have a clear picture of the company’s core business.

Competitors of Max Financial Services
Max Financial Services competes with many other life insurance companies.
The top 5 competitors of Max are –
 IWML
 Fino Payments
 Sundaram
 Delphi World
 Crest Ventures

Now, we have a clear picture of the company’s core business.

Max Life Insurance not only offers a variety of plans and policies that can help
in meeting the financial requirements of an extensive customer base, but it also
has a quality distribution system in addition to multi-channel distribution
partners
Customers who wish to make premium payments online can do so without the
need for stepping outside their house and visiting a branch of Max Life
Insurance Company Limited. All you need is a computer, an internet connection
and a payment gateway. The company's official website has a facility that
allows customers to make premium payments 

Balance sheet of the company

P&L of the company
Cashflow of the company
Ratios:-
FINANCIAL RATIOS  

Basic EPS (Rs.) 2.97 3.38 10.12 1.83 5.36  

Diluted EPS (Rs.) 2.97 3.38 10.11 1.83 5.35  

Cash EPS (Rs.) 3.07 2.99 10.48 1.90 5.43  

Book Value 195.58 192.57 84.61

[ExclRevalReserve]/Shar
e (Rs.)
PROFITABILITY  
RATIOS

PBDIT Margin (%) 75.46 43.56 82.11 24.75 55.35  

PBIT Margin (%) 73.72 42.32 80.11 24.20 54.62  

PBT Margin (%) 73.65 42.25 80.07 15.59 54.62  

Net Profit Margin 51.38 32.38 55.06 15.59 54.62  

(%)

Return on 1.52 1.49 11.95 2.46 7.49  

Networth / Equity
(%)

Return on Capital 2.17 1.94 16.37 3.81 7.45  

Employed (%)

Return on Assets 1.51 1.48 10.79 2.24 6.95  

(%)

Total Debt/Equity 0.00 0.00 0.00 0.00 0.00  

(X)

Asset Turnover 0.03 4.58 19.59

Ratio (%)

RETURN  
RATIOS

Current Ratio (X) 658.42 443.54 23.85 11.57 14.43  

Quick Ratio (X) 658.42 443.54 23.

MARGIN  
RATIOS

Enterprise 25,987.22 29,653.8 10,387.69 11,709.8 12,172.28  

Value (Cr.) 9 0

EV/Net 130.13 96.79 20.99 36.98 46.20  

Operating
Revenue (X)

EV/EBITDA 172.45 222.16 25.56 149.39 83.45  

(X)

MarketCap/Net 130.29 96.79 20.99 36.99 46.21  

Operating
Revenue (X)

Retention Ratios 0.00 0.00 0.00 0.00 0.00  

(%)

Price/BV (X) 3.85 4.46 4.56 5.86 6.34  

Price/Net 130.29 96.80 20.99

Operating
Revenue

Max Life's distribution channels include banks, individual agents, brokers, and

corporate agents, among others. It provides linked, participating and non-
participating products. Apart from life coverage, it also covers health, pension,
and annuity. It offers child protection, retirement, savings, and growth plans to
individuals and to groups. After forming the joint venture partnership with
Mitsui Sumitomo, Max Life changed its name from Max New York Life in
2012. In February 2016, Axis Bank held a 6% share in Max Life.