HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves

VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%

HDFC Life
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Subrata Panda Mumbai
Private sector insurer HDFC Life’s net profit surged 21 per cent year-on-year (YoY) to Rs 365 crore in the April-June quarter of FY23, aided by lower mortality reserves and healthy jump in value of new business (VNB). In the year-ago period, it had reported a net profit of Rs 302 crore.

Its VNB rose 25 per cent to Rs 510 crore in Q1FY23, over the same period a year ago, while annualised premium equivalent (APE) grew 22 per cent to Rs 1,904 crore.

VNB is the present value of future earnings from policies issued during a period. It reflects

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First Published: Jul 19 2022 | 3:40 PM IST

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