Gaurav Seth appointed as CEO of 5paisa Capital Limited, effective January 14, 2025
HDFC Life Insurance Ltd Q3 Results FY2024, Net profit at Rs.1157 Crores

On 12th January 2024, HDFC Life Insurance Ltd announced its quarterly results.
Key Highlights:
- Individual APE up by 6% to Rs.7271 crores in 9MFY24.
- New Business Premium (NBP) (Individual and Group) has grew by 7% to Rs.20100 crores in 9MFY24
- Net Premium income stood at Rs. 15235.33 crores
- Profit after Tax (PAT) was at Rs.1157 crores for 9MFY24.
- VoNB increased by 5% to Rs.2267 crores for 9MFY24.
Business Highlights:
- Retail protection APE is up by 36% with a growth in sum assured of 38%
- Close to 5 crore new lives covered in 9M FY24
- VNB margins sustained at 26.5% for 9M FY24
Commenting on results for nine months ended December 31, 2023, Ms. Vibha Padalkar, MD & CEO said “We continued to be ranked amongst the top 3 life insurers across individual and group businesses. The number of policies clocked a healthy growth of 9%, outpacing private and overall industry. This aligns with our core objective of establishing a sustainable long-term business by broadening our customer reach. We have covered close to 5 crore lives across our individual and group businesses. Growth from Tier 2 and 3 markets remains strong, witnessing 14% growth year on year. Our retail protection grew by 36% based on individual APE and credit protect clocked 21% growth YoY.”
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