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The life insurer had registered a net profit of ₹447.15 crore for the second quarter of last fiscal. According to a stock exchange filing, its net premium income increased to ₹21,727.37 crore in Q2FY27 from ₹18,777 crore in Q2FY26.

The first-year premium increased 9.69 per cent y-o-y at ₹3,926.66 crore, whereas the renewal premium rose 10.47 per cent y-o-y to ₹11,419.87 crore for the second quarter of this fiscal. Single premium increased 31.39 per cent y-o-y to ₹7,055.96 crore during the period under review.

The life insurer’s overall Annualised Premium Equivalent (APE) for the first half of this financial year (H1FY27) grew 11 per cent y-o-y at ₹8,245 crore, while Value of New Business (VNB) increased 12 per cent y-o-y at ₹2,037 crore for the period. VNB margin stood at 24.7 per cent for H1FY27 compared with 24.5 per cent for H1FY26.

Commenting on the results, Vibha Padalkar, MD & CEO, HDFC Life, said, “In Q2, individual weighted received premium (WRP) grew 11 per cent, ahead of the private industry at 10 per cent. This took our H1 growth to 9 per cent, with market share improving to 16.2 per cent from 16.1 per cent in Q1.” The number of individual policies grew 9 per cent in H1, ahead of the industry.

“On the regulatory front, IRDAI has released consultation papers on the economics of insurance distribution, which propose significant changes for the industry. The regulator has encouraged industry participants to share their feedback backed by data and keeping policyholder interest at the centre of the conversations,” Padalkar said.

During the earnings call, the management said the proposed reform would impact the agency channel at the industry level, but this channel would be least impacted. The brokers would be the most impacted.

“With any material change, there will be disruption. But I remain extremely optimistic once that disruption is digested by all market participants and the new norm emerges. When the new norm emerges, I do think that we will be in a position that is stronger than today,” Padalkar added.

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