HDFC Life Q2 results: Profit rises 3%, net premium income grows 13%

HDFC Life reported a 3.2% year-on-year increase in profit after tax (PAT) for the second quarter of FY26, reaching ₹449 crore. Net premium income (NPI) rose over 13% to ₹18,871 crore from ₹16,614 crore in the same quarter last year.

On a sequential basis, PAT declined 18% from ₹548 crore reported in Q1 FY26.

For the first half of FY26, the company reported PAT of ₹994 crore, up 9% year-on-year. Individual new business annualised premium equivalent (APE) increased 10% to ₹6,471 crore, contributing to total APE of ₹7,413 crore.

Total new business premiums, including individual and group segments, rose 12% to ₹16,222 crore, while renewal premiums increased 18% to ₹17,940 crore, resulting in total premiums of ₹34,162 crore, a 15% YoY gain.

The value of new business (VNB) for first half of FY26 stood at ₹1,818 crore, reflecting 10% growth compared with first half of FY25. Embedded value (EV) increased to ₹59,540 crore, with an operating return on EV of 15.8% on a rolling 12-month basis.

Persistency ratios remained stable, with 13-month and 61-month persistency at 86% and 62%, respectively.

The solvency ratio was reported at 175%, influenced by dividend payouts, repayment of ₹600 crore in subordinated debt, and GST-related adjustments.

HDFC Life’s market share in individual weighted received premium (WRP) was 11.9%, up 90 basis points from the previous year, and 16.6% within the private sector, up 30 basis points.