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companylogoHDFC Life Insurance Company Ltd

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BSE Code : 540777 | NSE Symbol : HDFCLIFE | ISIN : INE795G01014 | Industry : Finance & Investments |


Chairman's Speech

Dear Shareholders,

I am pleased to bring you HDFC Life's integrated annual report for the year 2024-25. The Company's steadfast dedication towards customer-centricity, innovation, and excellence has helped achieve robust financial results in a volatile external environment.

During the financial year, while we witnessed geopolitical tensions and economic uncertainties, the Indian economy remained buoyant for most part of the year and the Indian equity markets recorded their all-time high. India is currently the 4th largest economy in the world and is expanding at a rapid pace. In 2025, the Indian economy is expected to grow at 6.5%. While the country is reasonably protected from extraneous economic shocks by the rapid recovery of its private consumption and robust public investment, the financial implications of potential geopolitical escalations remain uncertain. Last year, the Indian life insurance industry witnessed a roll out of material regulatory initiatives such as providing greater flexibility to policyholders through enhanced value on pre-mature exit, articulation of the roadmap to adoption of Risk Based Capital (RBC) approach and International Financial Reporting Standards (IFRS) for insurance. These should augur well for the industry's long-term growth prospects.

To fortify our position as the insurer of choice, we must innovate constantly. We will continue to maintain a balance between growth and profitability. We have invested in expanding our distribution footprint supported by a broadened agent base and increased collaboration with new partners, enabling us to capitalise on a variety of growth opportunities.

I am delighted to announce that the Company has achieved consistent growth across key metrics, resulting in a strong financial performance in FY 2024-25. We continue to rank as one of the top three life insurers in both individual and group segments. Our market share expanded by 70 basis points to an all-time high of 11.1% in the overall sector, and stood at 15.7% in the private sector, an improvement of 30 bps. Individual weighted received premium for the year, grew faster than the industry at 17% and stood at Rs. 13,364 crore. The Profit after Tax stood at Rs. 1,802 crore, an increase of 15%. Assets under Management (AUM) crossed Rs. 3.36 lakh crore by March 31, 2025, while the solvency ratio stood at a healthy level of 194% at the end of the year indicating that the Company is well capitalised and has sufficient headroom to support its growth plans. As a responsible corporate citizen, we continue to invest for the betterment of society, our employees and the environment while maintaining the highest standards of corporate governance. Our CSR initiative, Swabhimaan, focusses on holistic living under key development areas – education & livelihood, healthcare & sanitation, and environmental sustainability. We have also been recognised amongst the top 100 Great Places to Work as well as amongst the top 50 Great Places to Work for Women.

As I look to the future, I remain optimistic about the opportunities that lie ahead. The insurance industry is undergoing rapid transformation, driven by technological advancements, changing customer expectations, and regulatory reforms. HDFC Life is well-positioned to capitalise on these trends, leveraging our strong brand, robust distribution network, and innovative approach to drive sustainable growth and create long-term value for all stakeholders.

Sincerely,

Keki M. Mistry

Chairman

   

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