Max Financial Services Q1 FY23 Earnings Update

Max Financial Services reported Q1 FY23 consolidated revenue of Rs 4,003 Cr with 17% YoY growth and consolidated PAT of Rs 68 Cr. New business premium grew 20% YoY to Rs 1,484 Cr, while VNB increased 23% YoY. The company maintained industry-leading claims paid ratio of 99.34% and launched new products including a guaranteed savings offering and life pension fund management services.