Private insurer Max Life Insurance today reported a 17 percent increase in profit before tax (PBT) for financial year 2012-13 at Rs 860 crore.
Gross written premium for 2012-13 increased by 4 per cent to Rs 6,639 crore.
A 6 per cent increase was witnessed in renewal premium to Rs 4,739 crore, while first year premium remained stable at Rs 1,899 crore.
Assets under management were up 19 per cent to Rs 20,458 crore, a company release said.
Encouraged by this performance, the company announced a year-end dividend of Rs 159 crore.
This takes the total shareholders dividend for 2012-13 to Rs 259 crore, including an interim dividend of Rs 99 crore.
Max India, Mitsui Sumitomo and Axis Bank are entitled to a total dividend of Rs 184 crore, Rs 67 crore and Rs 8 crore respectively.