Other Key Highlights:
• 38% growth in Individual Protection APE, with share improving from 6% to 9%
• 22% growth in renewal premium
• 25.1% New Business Margin on the back of growth and balanced product mix
• PAT of Rs 777 Cr, with growth of 6%
• Solvency healthy at 203%
Mumbai, October 19, 2020 (GPN): The Board of Directors of HDFC Life approved and adopted today the audited standalone and reviewed consolidated financial results for the half year ended September 30, 2020. Below is the summary of our standalone results:
Commenting on the current situation, Ms. Vibha Padalkar, MD & CEO said “While we remain sensitive about the health impact and loss of lives due to the pandemic and continue to focus on employee, customer and partner safety norms, opening up of the economy has led to a pickup in activity levels on the ground. This has also resulted in a marginal uplift in household income and spends. Insurance as a category has emerged
stronger as a vehicle to protect one’s family and realise their long term financial goals. Customers are more active in decision making resulting in traction in the individual business.”
Commenting on the H1FY21 performance, Ms. Vibha Padalkar, MD & CEO said “Our market share in terms of Individual WRP has increased by 235 basis points from 15.2% to 17.5%. Our focus remains on our long term
strategy of building a sustainable and profitable business and adding value to all key stakeholders. On the back of the improved economic momentum, we are optimistic about being able to sustain our performance across key metrics for the year.” ENDS