The total net profit of HDFC Life Insurance Company for the quarter ending December 2024 increased by 15% year over year to ₹421.31 crore from ₹367.54 crore during the same period the year before. In the same quarter last year, the net premium income was ₹15,273 crore, but it increased by 10% to ₹16,832 crore.
The company’s individual annual premium equivalent (APE) increased by a record 24%, which powered the increase in profit after tax (PAT). The PAT, however, fell 3.2% sequentially from ₹435.18 crore in the July-September period. Net premium income, on the other hand, increased from ₹16,614 crore in Q2FY25 to ₹13 percent in the following quarter.
HDFC Life Q3 Results
The consolidated profit after tax (PAT) of HDFC Life Insurance increased by 14% from ₹365 crore in the third quarter of the fiscal year 2023–2024 to ₹415 crore in the current quarter, the company announced on Wednesday, January 15. But in the quarter that concluded on December 31 of FY25, the company’s total income fell 36.64% year over year to ₹16,914 crore from ₹26,694 crore in the same period last year. As of December 31, 2023, its solvency ratio was over the regulatory threshold of 150%, albeit falling to 188% from 190%.
About HDFC Life Insurance Company
Housing Development Finance Corporation Limited (HDFC Limited) and Abrdn plc formed HDFC Life Insurance Company Limited as a joint venture. The HDFC Standard Life Insurance Company Ltd. was established on August 14, 2000, as a Public Limited Company. In 2003, the company achieved 10,000 individual agents and one lakh policies. The same year, the business partnered with HDFC Bank and other banks for distribution. In addition to launching its unit-linked insurance product, the company partnered with Saraswat Co-operative Bank Ltd. for distribution. It surpassed 5 lakh policies in 2007. The company’s pension fund division was given its own wholly-owned subsidiary, HDFC Pension, in Fiscal 2012. FY 2011–12 saw the business introduce
