HDFC Life Q2FY25 profit rises 15% YoY to Rs 433 cr

The growth was driven by strong premium collections and investment income, reported Moneycontrol.

The company's net premium income for the July-September quarter rose 12.3 percent year-on-year to Rs 16,570 crore.

A Bloomberg survey of analysts had estimated HDFC Life’s net profit for the second quarter at Rs 416.2 crore and revenue at Rs 17,735 crore.

The insurer collected Rs 3,253 crore in first-year premiums during the quarter, marking a 27 percent rise from the same period last year.

Renewal premiums also grew by 13 percent year-on-year to Rs 8,831 crore in Q2.

As of September 30, the company's assets under management (AUM) stood at Rs 3.25 lakh crore, up 23 percent in the first half of FY25, the report said.

The value of new business grew 17.4 percent to Rs 1,656 crore, reflecting the company's focus on profitable business growth.

HDFC Life’s solvency ratio was 181 percent, comfortably exceeding the regulatory minimum of 150 percent.

Following the issuance of subordinate debt worth Rs 1,000 crore in October, the solvency ratio improved to 191 percent.

"The private sector and the overall industry maintained strong growth momentum in Q2, with individual weighted received premiums growing 24 percent and 21 percent, respectively, in H1FY25. We outperformed the private sector, growing at 28 percent during this period and 19 percent on a two-year CAGR basis," said Vibha Padalkar, Managing Director and CEO of HDFC Life, in the company's press release.