HDFC Life Insurance coverage Firm Ltd reported a 3.2 per cent rise in revenue after tax (PAT) to Rs 449 crore for Q2FY26. This was barely beneath Zee Enterprise Analysis’s estimate of Rs 480 crore. Internet premium earnings (NPI) grew 13 per cent to Rs 18,871 crore, near the projected Rs 19,150 crore. On a sequential foundation, PAT declined 18 per cent from Rs 548 crore in Q1FY26.
New enterprise and VNB
Particular person new enterprise annualised premium equal (APE) reached Rs 6,471 crore, greater than Zee Enterprise Analysis’s standalone estimate of Rs 4,270 crore, reflecting stable progress in particular person enterprise. The worth of latest enterprise (VNB) margin stood at 24 per cent, barely beneath the estimated 24.3 per cent, partly attributable to GST enter credit score changes.
Premium combine, renewals, and market share
Complete premiums for H1FY26 rose 15 per cent to Rs 34,162 crore, supported by new enterprise premiums up 12 per cent and renewals up 18 per cent, broadly in keeping with Zee Enterprise Analysis’s projections. HDFC Life’s market share in particular person weighted acquired premium (WRP) elevated to 11.9 per cent, up 90 foundation factors YoY, whereas personal sector share rose to 16.6 per cent, up 30 foundation factors. Persistency ratios remained steady at 86 per cent (13-month) and 62 per cent (61-month).
Analyst takeaway
Whereas PAT barely lagged estimates, general premium progress, APE, and renewals broadly met Zee Enterprise Analysis expectations. Analysts word that target non-participating plans, group insurance policies, and robust financial institution assurance contributions will seemingly maintain progress and help market share in coming quarters.
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