13% Value of new business growth and 70 bps increase in overall market share
Mumbai: The Board of Directors of HDFC Life approved and adopted the audited standalone and consolidated financial results for the year ended March 31, 2025. The Company grew faster than the sector, whilst delivering healthy performance across all key metrics.
Performance Highlights:
- Topline Growth: Delivered strong individual APE growth of 18%, supported by increase in both number of policies sold and ticket size and a balanced product mix
- Market Share: Overall market share (individual WRP) increased by 70 bps to 11.1% for the period 11MFY25. Private sector market share stood at 15.7%, an increase of 30 bps
- Value of New Business (VNB) grew by 13% to ₹ 3,962 crore, reflecting robust growth in profitable business
- Assets under Management (AUM): AUM stood at ₹ 3,36,282 lakh crore as on 31st March 2025, an increase of 15% YoY
- Persistency: Our persistency for the 13th and 61st months stood at a strong 87% and 63%, respectively. Notably, our 61st-month persistency saw a significant improvement of 1000 basis points, demonstrating the company’s deep customer engagement and effective retention initiatives
- Embedded Value (EV) grew by 17% and stood at ₹ 55,423 crore, with 16.7% operating return on EV, showcasing sustained long-term value creation for shareholders
- Profit After Tax (PAT) of ₹ 1,802 crore was achieved in 12M FY25, clocking a steady growth of 15% year-on-year, helped by an 18% increase in profit emergence from our back book. The Board has recommended a final dividend of ₹ 2.1 per share, in line with our dividend payout policy, aggregating to a payout of about ₹ 452 crore
- Solvency Ratio stood at 194%, comfortably above the regulatory threshold of 150%
- Employee Focus: certified as Great Place to Work in 2025, highlighting commitment to employee well-being. Also recognized amongst the top 50 organisations for building a culture of innovation by Great Place to Work. HDFC Life was recognised for its inclusivity and employee-friendly policies, being awarded the Best Companies for Women in India 2024 in the BFSI sector and Exemplar of Inclusion (Most Inclusive Companies India 2024) by Avtar & Seramount
CEO`s Statement:
Vibha Padalkar, Managing Director and CEO of HDFC Life, commented: FY25 was a year where we deepened our reach, continued sharpening our value propositions and demonstrated the resilience of our business model. We are happy to report an 18% growth in Individual APE for FY25, in line with our stated growth aspirations for the year. Our overall industry market share expanded by 70 bps to 11.1% and by 30 bps to 15.7% within the private sector.
Retail protection continued to show strong momentum with APE growth of 25%. All channels registered double-digit growth. We continue to enhance customer experience through intuitive digital platforms, with over 90% of service requests now handled via self-service.
As we enter our 25th year of existence, our aspiration remains, against a backdrop of a stable regulatory regime, to consistently outpace sector topline growth, deliver VNB growth in line with APE growth and double key metrics every 4 to 4.5 years.
Key Financial Summary
|
₹ |
12M |
12M |
YoY |
|
|
Key |
||||
|
Individual |
13,619 |
11,509 |
18% |
|
|
Total |
15,479 |
13,291 |
16% |
|
|
New |
33,365 |
29,631 |
13% |
|
|
Renewal |
37,680 |
33,445 |
13% |
|
|
Total |
71,045 |
63,076 |
13% |
|
|
Assets |
3,36,282 |
2,92,220 |
15% |
|
|
Profit |
1,802 |
1,569 |
15% |
|
|
Indian |
55,423 |
47,468 |
17% |
|
|
Value |
3,962 |
3,501 |
13% |
|
|
|
||||
|
|
12M |
12M |
||
|
Key |
||||
|
New |
25.6% |
26.3% |
||
|
Operating |
16.7% |
17.5% |
||
|
Total |
19.8% |
19.4% |
||
|
Solvency |
194% |
187% |
||
|
13M / |
87%/63% |
87%/53% |
||
|
Individual |
11.1% |
10.4% |
||
|
Product /Annuity/ |
39/32/5/5/19 |
35/30/6/5/23 |
||