HDFC Life announced an 11% year-on-year growth in Individual APE for the nine months ended December 31, 2025, translating to a two-year CAGR of 17%. The company’s overall market share increased to 10.9%. Retail protection grew by 42% during the same period. Profit after tax grew by 7% to ₹1,414 crores.
Financial Performance Highlights
HDFC Life reported strong growth in its key metrics for the nine months ended December 31, 2025:
- Individual APE grew by 11% year-on-year, resulting in a two-year CAGR of 17%.
- Overall market share based on individual WRP expanded to 10.9%.
- Profit after tax increased by 7% to ₹1,414 crores. Excluding one-time Labor Code impact, underlying PAT growth would have been 15%.
- Embedded value stood at ₹61,565 crores, with an operating return on embedded value of 15.6%.
- Renewal collections grew 15% year-on-year.
Business and Product Mix
The product mix for 9M FY26 includes:
- ULIPs contributing 43%.
- Participating products at 27%.
- Non-par savings at 19%.
- Term at 7%.
- Annuity at 4%.
Retail protection showed strong year-on-year growth of 42% for the nine months ended FY26.
Distribution Channel Performance
- The agency channel delivered healthy double-digit growth.
- Over 80,000 agents were onboarded during 9M FY26.
- The branch network has crossed 700 branches.
Strategic Outlook
HDFC Life remains confident in the long-term prospects of the Indian life insurance sector, supported by strong structural fundamentals and a regulatory environment focused on sustainable growth.
Source: BSE
