13th Month Persistency Pressure
13th month persistency declined to 86% from 87% YoY due to economic pressure on Indian consumers and reduced high-ticket size sales. Management is closely monitoring this trend for potential EV walk negative variance.
MFSL / Q1-FY26 / risks
Keep the risk register visible.
Max Financial Services · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
medium
Online Channel Moderation
Online AP remained flattish due to market volatility impacting ULIP demand. While management expects recovery through innovative product features combining guarantees and protection, the timeline remains uncertain.
Insurance Bill Merger Clause Uncertainty
Media speculation about regulatory changes to Section 35 provisions regarding insurance-non-insurance mergers remains unresolved despite management's view that the holding company structure poses no issues.
Health Segment Degrowth
Regulatory changes on October 1st impacted fixed benefit health plans, causing degrowth in the health protection sub-segment that offset strong pure protection performance.