Good show by HDFC Life

Chennai : HDFC Life Insurance on Tuesday released its results for the quarter ending June 2022 and reported a standalone net profit of Rs 365 crore, rising 21 per cent year-on-year (YoY) from Rs 302 crore in the same quarters last year. The total APE (Annualized Premium Equivalent) shot up by 22 per cent to Rs 1,904 crore. HDFC Life’s total embedded value stood at Rs 29,709 crore, up 9 per cent YoY. “We continue to maintain a consistent growth trajectory, growing by 22 percent in terms of APE in the first quarter. This has enabled us to maintain our market leadership as a ‘Top 3 life insurer’ across individual and group business,” said Vibha Padalkar, MD and CEO, HDFC Life Insurance. “Our product mix remains balanced, with non-par savings at 35 percent, participating products at 30 percent, ULIPs at 25 percent, individual protection at 5 percent and annuity at 6 percent, based on individual APE,” Padalkar added.