Delhi, 23 July 2026: Axis Max Life Insurance Limited {formerly known as Max Life Insurance Company Limited.} (“Axis Max Life”/ “Company”), has recently received ‘India’s Best Bancassurance Partnership’ recognition at the Insurance Asia News Country Awards for Excellence 2026. This honour highlights the company’s 16-year long partnership with, Axis Bank.
Presented by Insurance Asia News, the awards recognise excellence among insurers across the Asia-Pacific region and provide a structured benchmark for evaluating performance against industry peers in 13 countries.
The recognition stands as a testament to the partnership’s performance, as entries were evaluated through a rigorous, objective assessment tailored to each category. Submissions were evaluated on five core parameters: business performance, measurable achievements, innovation, market impact, and strategic significance.
Built on deep operational synergy, the Axis Max Life and Axis Bank partnership has expanded life insurance access across India, protecting over lakhs of lives. By combining Axis Bank’s expansive branch footprint, digital onboarding, and data-led advisory, the partnership delivers accessible protection, savings, and retirement solutions across urban and regional markets.
Sumit Madan, Managing Director & Chief Executive Officer, Axis Max Life Insurance, said, “This recognition marks a proud milestone for both Axis Bank and Axis Max Life, standing as a testament to a partnership grounded in trust, shared values, and a relentless focus on our customers. By combining the strengths of a premier bank and a leading insurer, we have shown how true synergy can deliver meaningful financial security to millions of families across India. We humbly dedicate this honour to our valued customers, dedicated frontline teams, and partners who drive our journey forward every day.”
Subrat Mohanty, Executive Director, Axis Bank, and Chairman & Non-Executive Director, Axis Max Life Insurance, said, “This award is a recognition of the enduring partnership between Axis Bank and Axis Max Life. Over the last 16 years, we have built a strong and future-ready bancassurance model, combining our nationwide reach with advanced advisory capabilities, to secure the financial health of millions of our customers. This reinforces our commitment to IRDAI’s vision of insurance for all by 2047 and to shape the next phase of growth for the sector.”
The structural foundation of the partnership reached a major turning point during the 2024 brand refresh, as Axis Max Life wove certain elements of Axis Bank’s identity into its own brand DNA. This strategic alignment was more than just bancassurance partnership, it was done to amplify brand recognition of Axis Max Life across touchpoints, leveraging the bank’s deep equity of enhance trust and expand life insurance penetration into Tier 2 and Tier 3 markets under the ‘Double Bharosa’ campaign.
About Insurance Asia Awards:
The Country Awards for Excellence 2026 by InsuranceAsia News celebrates the best firms in the Asia Pacific (re)insurance market. The winners are selected based on outstanding business performance, measurable achievements, groundbreaking innovation, market impact, and strategic significance. The awards provide a platform for insurers to benchmark their performance against industry peers and celebrate their achievements.
About Axis Max Life Insurance Limited (https://www.axismaxlife.com)
Axis Max Life Insurance Limited (the “Company”), formerly known as Max Life Insurance Company Ltd., is a subsidiary of Max Financial Services Limited (“MFSL”) with Axis Bank Limited and its affiliates also being shareholders of the Company. Axis Max Life offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party partners. The Company has built its operations on a need-based sales process, a customer centric engagement model and trained human capital. As per audited financials for FY2025-26, Axis Max Life recorded a gross written premium of INR 38,877 crore.
IRDAI Registration. No – 104
Company Identification Number – U74899HR2000PLC143012
