HDFC Life Sees Profit Surge Amid Premium Growth

HDFC Life, a life insurance subsidiary of HDFC Bank, reported a 14.85% increase in net profit to Rs 433 crore for Q2 of the current fiscal year. The company's net premium rose to Rs 16,570 crore, with a solvency ratio of 181% exceeding the regulatory threshold.

HDFC Life, an arm of HDFC Bank, announced a notable 14.85% rise in its net profit, reaching Rs 433 crore for the second quarter of this fiscal year. This marks a significant increase from the Rs 377 crore profit recorded during the same period last year.

The company also reported a substantial rise in its net premium, which climbed to Rs 16,570 crore from Rs 14,756 crore year-on-year. The first-year premium collection saw robust growth, advancing to Rs 3,253 crore, up from Rs 2,566 crore in the previous year.

Reflecting financial stability, HDFC Life's solvency ratio stood at 181% for the quarter, comfortably surpassing the regulatory minimum of 150%. Following a subordinated debt raise of Rs 1,000 crore in October 2024, the solvency ratio further improved to 192%.

(With inputs from agencies.)