The Board of Directors of HDFC Life approved and adopted the reviewed standalone and consolidated financial results for nine months ended December 31, 2024. The Company continued its positive trajectory, delivering healthy and consistent performance across all metrics.
Performance Highlights:
Topline Growth: Delivered strong individual APE growth of 24%, supported by a 15% increase in number of policies sold and a balanced product mix
Market Share: Overall market share (individual WRP) increased by 70 bps to 10.8%. Private sector market share stood at 15.3%
Value of New Business (VNB) grew by 14% to ?2,586 crore, reflecting strong growth in profitable business
Assets under Management (AUM): AUM stood at ?3.3 lakh crore as on 31st December 2024, an increase of 18% YoY
Persistency: 13th and 61st month persistency stood at 87% and 61%, an increase of 110 and 780 bps respectively, demonstrating the company's strong customer engagement and retention
Embedded Value (EV) grew by 18% and stood at ? 53,246 crore, with 16.0% operating return on EV, showcasing sustained long-term value creation for both policyholders and shareholders
Profit After Tax (PAT) of ? 1,326 crore was achieved in 9M FY25, clocking a steady growth of 15% year-on-year, helped by an 18% increase in profit emergence from our back book.
Solvency Ratio stood at 188%, comfortably above the regulatory threshold of 150%
Employee Focus: Recognised as India’s Top 50 Best Workplaces for Women by Great Place to Work. Also featured in Business Today’s BT500 list of India’s Most Valuable Companies
CEO’s Statement:
Vibha Padalkar, Managing Director and CEO of HDFC Life, commented: “We have registered a healthy growth of 22%, based on individual WRP for 9MFY25, outpacing overall industry growth of 14%. We have witnessed both ticket size and volume expansion during this period. The number of policies has grown by 15%, outperforming the private sector's growth of 9%. Retail protection continues to grow well. Retail protection APE for nine months saw a growth of 28%. We are committed to adapting to the evolving market landscape with agility and resilience. This includes continued investment in distribution, tech and customer-centric product innovations to deliver long-term value for our stakeholders.”
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