HDFC Life Insurance Company Limited — Q2FY27 earnings call summary

Filed 23 October 2026 · Official transcript

H1 FY27 individual weighted received premium grew 9%, Q2 growth 11%, market share 16.2%
Regulatory consultation ongoing on distribution economics; impact uncertain
VNB grew 12% in H1, new business margin 24.7%, PAT grew 13% to ₹1,119 crore
Management confident in sustaining growth and margin expansion with continued investments
Annuity segment grew 3x YoY, driven by variable annuities and broad product mix
Persistency at 83% (13-month) and 66% (61-month), some softness in ULIP renewals
Board approved ₹500 crore subordinated debt to strengthen solvency ratio at 180%
Agency and bancassurance channels growing, new partnership with J&K Bank