Over next few quarters, Axis Bank will increase stake: Max Life CEO

'The value of new business (VNB) grew 23 per cent - this means we improved our margins and our total assets under management grew 14 per cent'

Life insurers have seen strong growth this year with the economy unlocking and supply-side constraints easing. Against this backdrop, Prashant Tripathy, managing director and chief executive officer, Max Life Insurance Company, in conversation with Subrata Panda talks about the company’s first-quarter (Q1) performance, Axis Bank’s plan to increase stake, and growth targets. Edited excerpts:

How was Q1 in terms of business?

We delivered sustainable growth by building a solid distribution process. Our new business premium increased 20 per cent; annual premium equivalent (APE) increased 15 per cent. Our gross premium grew 18 per cent. The value of new business