HDFC Life Insurance on Wednesday reported a 3% year-on-year (YoY) rise in its standalone net profit to ₹447 crore for the second quarter of FY26.
Total premium income rose 14% YoY to ₹19,287 crore during the July–September quarter. New business premium (including individual and group) grew 11% YoY to ₹8,950 crore while renewal premium rose 17% YoY to ₹10,337 crore, reflecting higher customer retention. However, expenses of management increased 16% to ₹4,101 crore, which weighed on the profitability.
The total annualised premium equivalent (APE) — a metric used to measure new business sales by combining regular premium and a tenth of single premium — stood at ₹4,188 crore. Individual APE grew 9% to ₹3,694 crore.
The value of new business, which reflects profitability from new business written during the period, rose 8% YoY to ₹1,009 crore.
“H1FY26 concluded with top line performance broadly in line with expectations, outperforming both the industry and the private sector,” said Vibha Padalkar, MD and CEO, in the earnings release. “We remain optimistic about our growth trajectory for H2, supported by sustained demand across segments and improving consumer sentiment.”
HDFC Life’s overall market share rose 90 basis points to 11.9%, while its share within the private sector increased 30 basis points to 16.6%.
However, the solvency ratio declined to 175% from 192% in the previous quarter, though it remains well above the regulatory requirement of 150%. The company attributed the fall in solvency to a combination of dividend payout, repayment of ₹600-crore subordinated debt, increased protection business, and the impact of GST changes.
HDFC Life said it plans to raise up to ₹750 crore in subordinated debt in one or more tranches during H2.
Shares of HDFC Life closed 2.45% higher at ₹761.80 on the NSE.