New Delhi, Aug. 18 -- Axis Max Life Insurance expects the sharp improvement in its new business profitability to hold through the rest of the financial year, with managing director (MD) and chief executive officer (CEO) Sumit Madan saying the company is unlikely to make any changes to products in the near future.

Madan told Mint that the company's profitability gains appear sustainable, as its current product mix now aligns with its long-term strategy. "You will not see much of the product mix changing for us. So we should be okay as far as the rest of the year is concerned."

The insurer's value of new business (VNB), which measures the expected profit from policies sold in a period, grew 33% in the June quarter, with the VNB margin at ...