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Today Date : Sunday, April 21, 2024

HDFC posts strong delivery across all key metrics

HDFC posts strong delivery across all key metrics

The Board of Directors of HDFC Life approved and adopted today the audited standalone and reviewed consolidated financial results for the full year ended March 31, 2023.
The year with a strong growth of 27% in individual WRP with a market share of 16.5% and 10.8% in the private and overall sector respectively, clocking expansion of 40 and 70 basis points respectively. 
We continue to grow faster than the private industry and be ranked amongst the top 3 life insurers across individual and group businesses. 
In terms of Individual WRP, we have outpaced the private industry over multiple timeframes including, in the past 3, 5 and 7 years, thereby consistently demonstrating growth leadership.
Commenting on the full year performance for FY23, Ms. Vibha Padalkar, MD & CEO said “As you may be aware, the RBI has permitted HDFC Bank or HDFC Ltd to increase their shareholding in HDFC Life to more than 50% prior to the effective date, thus clearing any uncertainty around HDFC Bank’s eventual shareholding in us. 
We look forward to collaborating with our parent to be, towards creating value for all stakeholders.