HDFC Life Insurance on Wednesday reported a consolidated net profit of ₹421.31 crore for the quarter ended December 31, up 14.62 per cent from ₹367.54 crore in the corresponding quarter of the previous year.
Consolidated net premium income of the life insurer during the quarter was ₹16,831.84 crore compared with ₹15,273.25 crore in the year ago period, up 10.2 per cent.
For the nine months ended December 31, net profit of the life insurer was ₹1,326 crore, up 15 per cent from ₹1,157 crore in the corresponding period previous year.
New business premium during 9MFY25 was ₹22,396 crore, up 11 per cent from ₹20,100 crore in the year-ago period. However, new business margins were under pressure during this period at 25.1 per cent compared with 26.5 per cent in the nine month period of the previous fiscal. This was on account of a rising share of low-margin ULIPs and the implementation of new surrender value regulations.
The share of ULIPs has increased to 37 per cent in 9MFY25 from 32 per cent in 9MFY24, while that of participating policies and annuities have decreased during the period. The solvency ratio stood at 188 per cent during 9MFY25 compared with 190 per cent in the year-ago period.
“We have registered a healthy growth of 22 per cent based on individual WRP (weighted received premium) for 9MFY25, outpacing private industry and overall sector growth of 19 per cent and 14 per cent respectively,” Vibha Padalkar, MD and CEO, HDFC Life, told analysts.
