HDFC Life Q2 Results Highlights: Net profit rises 14.9% to ₹433 crore, shares down

Vibha Padalkar, Managing Director and CEO of HDFC Life, commented, “The private sector and overall industry continued its strong momentum in Q2, growing in H1FY25 by 24% and 21% respectively on an individual weighted received premium basis. We have outperformed the private sector by growing at 28% during this period and 19% on a 2 year CAGR basis. We registered an increase of 22% in the number of policies, which was significantly ahead of the private sector growth of 13%. We experienced secular growth trends across Tier 1, Tier 2 and Tier 3 geographies."

On the regulatory front, we have successfully relaunched more than 40 top products contributing to about 95% of the business, in alignment with revised regulations as on October 1, 2024 and we plan to relaunch other products during the course of the quarter. We are thankful to the regulator in allowing us an additional time of three months for transitioning to the new product regulations.

Furthermore, we are happy to inform that HDFC Life continues to be recognised for its commitment to sustainability and responsible governance. HDFC Life's S&P Global ESG score saw an improvement of over 20% versus last year and we continue to be rated well amongst regional insurers. Our MSCI ESG Rating has also been upgraded to ‘A’.

We remain focused on driving sustainable growth and strengthening our leadership across key segments. We will continue to invest in customer-centric innovations to ensure we meet evolving needs and remain resilient in a dynamic market. We are confident in our ability to deliver long-term value for our stakeholders, whilst adapting to the evolving market landscape with agility and resilience."

• Keki M Mistry, Non-Executive Director, Chairman
• Kaizad Bharucha, Non-Executive Director, Nominee of HDFC Bank
• Sumit Bose, Independent Director
• Ketan Dalal, Independent Director
• Bharti Gupta Ramola, Independent Director
• Bhaskar Ghosh, Independent Director
• Venkatraman Srinivasan, Independent Director
• Subodh Kumar Jaiswal, Independent Director
• Vibha Padalkar, MD and CEO, HDFC Life
• Niraj Shah, Executive Director and Chief Financial Officer

• Current price: ₹742.5 (+0.26%)
• Previous close: ₹740.6
• Open: ₹742.8
• High: ₹745
• Low: ₹735.8

According to market observers, the value of new businesses is estimated to be between ₹900 crore and ₹978 crore in Q2FY25.

In Q1 FY25, HDFC Life's net profit surged 15% YoY to ₹479 crore. The value of new business (VNB) rose 18% YoY to ₹718 crore. VNB is a tool for assessing the projected profitability of newly sold policies during the period.