'
HDFC Life Insurance Company conducted a conference call on 15 July
2024 to discuss the financial results for the quarter ended June 2024. Vibha
Padalkar, MD & CEO of the company addressed the call:
Highlights:
The company
has started the year on a strong note, achieving 31% yoy growth in individual
APE, which implies a two-year CAGR of 21%, driven by a comprehensive
performance across all metrics.
The company
welcomes the positive impact of IRDAI''s progressive reforms that are expected
to significantly strengthen the life insurance proposition in India, making it
simpler, more transparent and ultimately more attractive to prospective
customers.
The Private
market share expanded from 16.4% in Q1FY24 to 17.1% in Q1FY25, and the overall
market share in Individual WRP increased to 11.4%.
Retail sum assured increased 46%, bolstered by
higher sum assured multiples for savings products and strong rider atta...
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