2 hrs ago
Axis Max Life, SK Finance Expand Credit Life Protection
Axis Max Life and SK Finance have joined together to offer life insurance linked to loans.
This type of insurance is called Group Credit Life Insurance.
SK Finance provides loans, especially for vehicles, to people in many rural and semi-urban areas.
Axis Max Life provides the insurance protection.
The protection may help customers and their families deal with certain unexpected events while a financial commitment is outstanding.
The companies say the partnership could help people who have not used formal insurance before.
They want insurance to become easier to access and part of the borrowing process.
The partnership is part of Axis Max Life’s efforts to support the goal of Insurance for All by 2047.
Axis Max Life and SK Finance partnered to offer Group Credit Life Insurance across India’s emerging markets.
The partnership links SK Finance’s vehicle-financing network with Axis Max Life’s life-insurance capabilities.
The companies aim to reach customers with limited access to formal insurance products.
SK Finance operates through more than 700 branches across 12 states and two Union Territories.
Axis Max Life reported gross written premium of INR 38,877 crore in its audited FY2025-26 financials.
- Who
- Axis Max Life Insurance Limited and SK Finance Limited.
- What
- The companies partnered to offer Group Credit Life Insurance solutions to customers.
- Where
- Across India, particularly in emerging, rural, and semi-urban markets.
- When
- The announcement was dated October 1; the year was stated as 2026 in the dateline.
- Why
- To extend life-insurance protection to underserved customers and strengthen financial resilience for borrowers and their families.
Key facts
- Partnership
- Axis Max Life and SK Finance
- Product
- Group Credit Life Insurance
- Market
- India’s emerging, rural, and semi-urban markets
- SK Finance network
- More than 700 branches across 12 states and two Union Territories
- SK Finance AUM
- More than ₹16,200 crore as of June 30, 2026
- Axis Max Life premium
- INR 38,877 crore gross written premium in audited FY2025-26 financials
- Insurance registration
- IRDAI Registration No. 104
Quotes
Anurag Gupta
Chief Business Officer – Partnership Channels at Axis Max Life Insurance
“India’s next phase of insurance growth will be shaped by our ability to take protection beyond conventional customer segments and into the heart of the country’s emerging financial ecosystem. Our partnership with SK Finance brings together two complementary strengths; deep customer understanding and differentiated protection capabilities. By leveraging such partnerships, we can make life insurance more accessible, relevant and integrated into the financial journeys of customers across the کشور,”
theprint.in
“Financial resilience is not just about access to credit, but also about ensuring that customers and their families are protected against unforeseen circumstances. Our partnership with Axis Max Life is a meaningful step in that direction, enabling us to bring relevant credit life protection closer to customers across India’s emerging markets.”
theprint.in
Sources
Related news
India Needs Financial Protection Beyond Savings, HDFC Life Session Says
Industry Leaders Outline Path to Insurance for Every Indian
India’s Insurance Protection Gap Is Concentrated in Non-Life Cover
Jio Financial Services Targets 100 Million Customers, Expands Offerings
Pramerica Life Launches Poorna Rakshak With Five Benefit Options
