HDFC Life Insurance Company Limited reported a net profit of ₹611.42 crore for the quarter ended June 30, 2026 (Q1FY27), reflecting a 12% increase from ₹546.46 crore in the corresponding quarter of the previous year. The insurer's total premium grew 15% year-on-year to ₹17,166 crore, driven by a 19% increase in renewal premium. The Indian Embedded Value (IEV) stood at ₹65,860 crore, up 13% from ₹58,355 crore in Q1FY26, while Assets Under Management (AUM) reached ₹4,00,870 crore. The audio recording of the earnings call held on July 15, 2026, regarding these financial results has been hosted on the company's website.

Financial Performance

The company's Individual Annualized Premium Equivalent (APE) rose 7% to ₹2,969 crore, with Total APE increasing 9% to ₹3,515 crore. New Business Premium (Individual + Group) grew 12% to ₹8,143 crore. The Value of New Business (VNB) increased 9% to ₹879 crore, with a New Business Margin (NBM) of 25.0%, slightly lower than the 25.1% recorded in the previous year. The solvency ratio remained robust at 185% as of June 30, 2026, compared to 192% in the prior year.

Key Metrics and Ratios

The following table summarises the key financial metrics for the quarter:

Operational Highlights

The number of individual policies issued grew 13% to 282,000 in Q1FY27. The persistency ratio on a premium basis for the 13th month was 84%, while the 61st month persistency stood at 65%. The product mix by Individual APE shifted towards Unit Linked (UL) and Non-par savings, which constituted 44% and 22% respectively, compared to 38% and 19% in the prior year. The distribution mix by Individual APE was led by Banca at 57%, followed by Agency at 18%.

Corporate Actions

During the quarter, the company allotted 14,523,906 fully paid-up equity shares of ₹10 each at a price of ₹688.52 per share, aggregating to ₹1,000 crore, on a preferential basis to HDFC Bank Limited. Additionally, 131,539 equity shares were allotted pursuant to the exercise of employee stock options. The Board has recommended a final dividend of ₹2.10 per share for the financial year ended March 31, 2026, subject to shareholder approval.

HDFC Life Insurance Company Limited declared a dividend of ₹2.10 per equity share for the financial year ended March 31, 2026, during its 26th Annual General Meeting held on July 16, 2026. All resolutions specified in the notice were passed by the members with the requisite majority. The meeting was conducted through Video-Conferencing and Other Audio-Visual Means, commencing at 2.00 p.m. and concluding at 4.18 p.m.

Mr Keki M. Mistry, Non-Executive Chairman, chaired the meeting which was attended by 111 members, including authorised representatives. The representatives of the Statutory Auditors, M/s BSR & Co. LLP and M/s G.M. Kapadia & Co., along with the Secretarial Auditor and Scrutinizer, were present. The Chairman confirmed that the Joint Statutory Auditors' Report and the Secretarial Audit Report contained no qualifications, reservations, or adverse remarks.

The business transacted included the adoption of the standalone and consolidated financial statements for the financial year ended March 31, 2026. Shareholders approved the appointment of KKC & Associates LLP as one of the Joint Statutory Auditors and the payment of remuneration to the auditors. Mr Kaizad Bharucha was re-appointed as a Director, retiring by rotation.

Resolutions regarding the company's leadership were also approved. Mr Niraj Shah was re-appointed as the Executive Director & Chief Financial Officer, and Ms Vibha Padalkar was re-appointed as the Managing Director & Chief Executive Officer. Additionally, the meeting approved a revision in the remuneration of Mr Vineet Arora, Executive Director & Chief Business Officer, and related party transactions with HDFC Bank Limited, the promoter of the company.

Ms Vibha Padalkar, Managing Director & CEO, responded to shareholder queries regarding the business, annual financial results, and company affairs. The voting results will be submitted to the stock exchanges within two working days and made available on the company's website.

Resolutions Passed