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KRChoksey Research Report
HDFC Life Insurance Company Ltd. plans to continue expanding new business opportunities, introducing new products and maintaining proper risk management, all to capitalise on the massive opportunity the Indian market offers.
In FY22, HDFC Life grew Individual weighted received premium by 16%, increasing renewal premium by 18%. During the year, the 13th-month persistency ratio, including single premium, increased to 92%.
On new business premium, it had a private market share of 21%, and its assets under management climbed by 17% to Rs 2,042 billion.
The steady new business premium growth of 20% is complemented by its consistently healthy new business margins. In FY22, the company's new business margin was 27.4%, an increase of 130 basis points over the previous year and the value of new business increased by 22% to Rs 26.75 billion.
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