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Max Life Insurance Company Limited said that its AUM ha crossed Rs 1 lakh crore registering a growth of six times in a decade.
Max Life Insurance Company Limited said that its Assets Under Management (AUM) has now crossed Rs 1 lakh crore. It said that the company has registered a growth of six times in a decade. Max Life announced in a statement that it had reached a significant commercial milestone by reaching Rs 1 lakh crore in AUM as of September 23. As a result, the company has placed a strong emphasis on financial security, product innovation, and digitization.
According to the valuation guidelines of insurance sector regulator IRDAI, Max Life’s AUM has increased from Rs 17,200 crore in 2011-12 to Rs 1 lakh crore in the current financial year in the last 10 years.
Despite the pandemic, the company has witnessed a 22.9% increase in AUM so far this fiscal year.
Max Life’s AUM increased by 32% in 2020-21 and roughly 23% in the current financial year, due to major improvements in value-added products and customer service.
The accomplishment of reaching the Rs 1 lakh crore AUM, according to Max Life, is a testament to their commitment, which has helped them generate excellent performance over the last decade.