Bharti AXA Life Insurance reports 44% growth in new business premium in FY26

Bharti AXA Life Insurance reported a strong financial performance for FY26, with its new business premium (NBP) rising around 44% year-on-year to ₹1,069 crore, significantly outpacing overall industry growth. The company said the growth rate was nearly three times the industry average, supported by expansion in distribution channels, improved productivity, and disciplined cost management.

The insurer also reported a major profitability milestone during the financial year, with its Value of New Business (VNB) turning positive for the first time. The company said the improvement reflects operational leverage benefits as business scale increased.

Bharti AXA Life Insurance is a subsidiary of Bharti Life Ventures Private Limited, a Bharti Group company.

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Distribution expansion boosts growth

According to the company, growth in FY26 was primarily driven by stronger productivity in proprietary channels and expansion of its partnership network.

The insurer added two new bancassurance partners during the year, taking its total bancassurance partner count to nine. The company also strengthened its presence in the wealth management segment as part of its broader distribution strategy.

Bharti AXA Life further reported significant growth in its group business segment, led by strong traction in the Group Term Life (GTL) business.

The company maintained a solvency ratio of 191% during FY26, comfortably above the Insurance Regulatory and Development Authority of India’s (IRDAI) minimum regulatory requirement of 150%.

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Growth trajectory

Commenting on the company’s performance, Parag Raja, Managing Director and CEO of Bharti AXA Life Insurance, said FY26 marked a significant shift in the insurer’s growth trajectory.

“By delivering 44% growth—triple the industry rate—we have proven the strength of our distribution and the resonance of our product suite,” Raja said.

He added that the transition to a positive VNB reflects the impact of disciplined execution and operational efficiency as the business continues to scale.

According to Raja, the company’s performance was supported by two major drivers — higher productivity across proprietary channels and aggressive expansion of its partnership ecosystem involving banks and brokers.

He also highlighted the rapid growth in the Group Term Life segment, which helped strengthen the company’s position in the group insurance business.

“As we progress on our ‘Bharti 2.0’ journey, we remain committed to delivering long-term value through cost discipline and consumer-centric innovation,” Raja said.

Long-term expansion

Established in 2006, Bharti AXA Life Insurance currently operates through more than 200 offices across India and offers a range of insurance products catering to both individual and group customers.

The company said it remains focused on expanding distribution reach, strengthening customer experience, and improving profitability as competition intensifies in India’s private life insurance sector.

Industry analysts note that insurers are increasingly prioritising profitable growth, operational efficiency, and diversified distribution partnerships amid changing customer preferences and rising demand for protection-oriented products.