Axis Max Life Insurance has announced the launch of the Axis Max Life Rising India Manufacturing Fund, an actively managed thematic fund designed to provide policyholders an opportunity to participate in India's expanding manufacturing ecosystem. According to the company announcement, the fund will invest primarily across the manufacturing sector and related industries, including ancillary businesses, industrial infrastructure providers, engineering companies, automation solution providers, logistics participants and other businesses deriving significant revenues from the manufacturing ecosystem. Vaibhav Kumar, Head - Product Management and E-Commerce Channel, stated that the fund's diversified approach will enable identification of businesses with strong growth potential, competitive positioning, operational capabilities and financial strength. The fund will use the Nifty India Manufacturing Index as its benchmark and will be available across online and offline channels through applicable Axis Max Life unit-linked insurance products, with an annual Fund Management Charge (FMC) of 1.35% of assets under management.
Axis Max Life Insurance does not anticipate any immediate increase in life insurance premiums over the next few months, according to managing director and chief executive officer Sumit Madan. Speaking to Mint, Madan stated that he does not see any trigger for premium rate increases, either for the company or for the industry overall. His comments come as global uncertainties continue to weigh on consumer sentiment, but the industry maintains a reasonably good run despite these challenges.
The unlisted insurer has demonstrated robust growth compared to industry benchmarks. According to Madan's interview with Mint, Axis Max Life grew 16-17% last year, significantly outpacing industry growth of around 10-12%. In the first quarter of the current financial year, the company maintained this momentum with 16% growth, substantially higher than industry growth of about 8-9%. As per the latest audited financials for FY2025-26, Axis Max Life recorded a gross written premium of ₹38,877 crore. This performance reflects the company's strategic focus on need-based selling and the use of data, technology and artificial intelligence to deepen customer engagement and expand insurance penetration.
Axis Max Life is experiencing significant growth in smaller cities, with 65-68% of sales now coming from tier-2 and tier-3 markets. As reported by Mint, Madan attributed this shift partly to the company's brand refresh and the reach of Axis Bank. The company has seen improvement in sales and brand consideration after the brand refresh to Axis Max Life Insurance, particularly in weaker markets such as the south and east regions. With the launch of the Rising India Manufacturing Fund, Axis Max Life continues to expand its suite of investment options, providing policyholders greater choice to participate in long-term opportunities emerging across India's economy.
The company's latest India Retirement Index Study (IRIS) 2026, conducted in partnership with Kantar and covering 3,489 households across 40 cities, reveals significant trends in retirement preparedness. According to the study findings reported by Mint, tier-2 cities are closing the retirement-readiness gap with larger urban centres. The tier-2 IRIS score rose to 48 in 2026 from 44 in 2025, while the metro score remained at 50 and the tier-1 score eased to 48 from 49. Among tier-2 respondents, 67% said they were aware of the corpus required to sustain their current lifestyle during retirement, compared with 61% for overall India, with 78% confident about maintaining good health during retirement.
