Partnership Overview

Axis Max Life Insurance Limited (formerly Max Life Insurance Company Ltd), a subsidiary of Max Financial Services Ltd with Axis Bank and affiliates as shareholders, announced a partnership with SK Finance Limited, a 31‑year‑old NBFC operating over 700 branches in 12 states and 2 Union Territories. The collaboration will enable the joint offering of credit life insurance solutions to customers in India’s emerging markets, leveraging SK Finance’s vehicle‑financing expertise and extensive rural and semi‑urban reach, and Axis Max Life’s life‑insurance capabilities.

Strategic Rationale

Both parties stated that the partnership aims to enhance financial resilience for underserved borrowers by integrating protection into credit products, aligning with the national “Insurance for All by 2047” ambition.

Financial Highlights

  • Axis Max Life reported gross written premium of INR 38,877 crore for FY 2025‑26, as per audited financials.
  • SK Finance’s assets under management crossed ₹16,200 crore as of 30 June 2026.

Key Executives Comments

  • Rajendra Setia, Managing Director of SK Finance, highlighted the importance of combining credit access with protection.
  • Sumit Madan, MD & CEO of Axis Max Life, emphasized moving insurance beyond conventional segments.
  • Anurag Gupta, Chief Business Officer – Partnership Channels, Axis Max Life, noted that the partnership will make life insurance more accessible and integrated.
  • Yash Setia, Whole‑time Director of SK Finance, underscored the role of technology and inclusive finance in delivering the solution.

Operational Scope

The joint offering will target customers in rural and semi‑urban communities across India, particularly those with limited prior access to formal insurance products. No specific product pricing or rollout timeline was disclosed.

Regulatory and Corporate Information

Axis Max Life is registered with IRDAI (Registration No. 104, CIN U74899HR2000PLC143012). SK Finance provides asset‑backed financing for commercial vehicles, passenger vehicles, tractors, construction equipment, and secured business loans.