HDFC Life H1 FY27 Results: Profit Rises 13% To ₹1,119 Crore As Value Of New Business Grows 12% Year-On-Year
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HDFC Life Insurance reported a 12.7% year-on-year rise in half-year profit after tax to ₹1,119 crore. The value of new business increased 12.1% to ₹2,037 crore.
HDFC Life Insurance Company Limited reported profit after tax (PAT) of ₹1,119 crore for the half year ended 30 September 2026, up 12.7% from ₹994 crore in the corresponding period last year. Total annualised premium equivalent (APE), a measure of new business sales, grew 11% to ₹8,245 crore, while the value of new business (VNB) increased 12.1% to ₹2,037 crore. The company’s new business margin improved to 24.7% from 24.5%.
The insurer’s total premium increased 16% to ₹39,569 crore, supported by growth in both new business and renewals. Assets under management (AUM) rose 13.8% year-on-year to ₹4.1 lakh crore.
The HDFC Life share price rose 1.19% to close at ₹550.55 on 15 October 2026 on the National Stock Exchange (NSE).
HDFC Life H1 FY27 Results: Consolidated Financial Highlights
In Q2 FY27, individual weighted received premium (WRP) grew 11%, ahead of the private life insurance industry’s 10% growth. Overall APE increased 13% during the quarter. For H1 FY27, individual WRP rose 9%, while individual APE increased 9% to ₹7,080 crore from ₹6,471 crore.
The key half-year financial and business metrics were as follows:
Parameter | H1 FY27 | H1 FY26 | YoY Change |
|---|---|---|---|
Individual APE | ₹7,080 crore | ₹6,471 crore | +9% |
Total APE | ₹8,245 crore | ₹7,413 crore | +11% |
New Business Premium | ₹19,126 crore | ₹16,222 crore | +18% |
Renewal Premium | ₹20,443 crore | ₹17,940 crore | +14% |
Total Premium | ₹39,569 crore | ₹34,162 crore | +16% |
Profit After Tax | ₹1,119 crore | ₹994 crore | +13% |
Value of New Business | ₹2,037 crore | ₹1,818 crore | +12% |
Assets Under Management | ₹4,09,673 crore | ₹3,59,999 crore | +14% |
Which Insurance Segments Recorded Strong Growth?
Retail protection business grew 33% during H1 FY27. Its share of individual APE increased to 8% from around 7% a year earlier. Protection products and riders together accounted for 11% of individual APE.
Retail sum assured increased 21% year-on-year, with the company ranking among the top two players in this category. Renewal collections grew 14%, supported by the expanding in-force policy base.
HDFC Life’s product mix also shifted during the period. Unit-linked insurance plans (ULIPs) accounted for 45% of individual APE, compared with 42% in H1 FY26. Non-participating savings products increased their share to 22% from 18%, while the share of participating products fell to 13% from 29%. Annuity products accounted for 12%, up from 4%
What Did Management Say About HDFC Life H1 Results?
Vibha Padalkar, Managing Director and Chief Executive Officer of HDFC Life, said individual WRP growth in Q2 exceeded the private industry’s pace. The company’s individual market share improved to 16.2% from 16.1% in Q1 FY27. She said the company expects to sustain its momentum and grow in line with the industry in FY27.
Niraj Shah, Executive Director and Chief Financial Officer, said VNB growth outpaced APE growth, with Q2 VNB increasing 14.8%. He highlighted the company’s ₹66,461 crore embedded value, 14.9% rolling 12-month operating return on embedded value and ₹4.1 lakh crore AUM. He added that HDFC Life remains confident in the sector’s long-term growth prospects.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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