HDFC Life Q1 Profit Rises To ₹611 Cr On Higher Premium Collection

HDFC Life Insurance reported a 12% rise in first-quarter profit on Wednesday, helped by growth in premium collections, particularly from policy renewals.

The insurer's net profit rose to ₹611 crore ($63.47 million) for the three months ended June 30, from ₹546 crore a year earlier.

Analysts had reportedly expected HDFC Life's new business growth to lag peers as sales through its key HDFC Bank distribution channel remained subdued, though strong renewal premiums supported profit growth.

Net premium income increased around 14% to ₹16,548 crore. First-year premiums from new policies rose nearly 6%, while renewal premiums increased nearly 19%.

ICICI Prudential Life's Q1 Numbers

Earlier in the day, ICICI Prudential Life Insurance reported a 27.8% year-on-year rise in standalone profit to ₹386 crore for the first quarter of FY27.

The company attributed the growth to higher shareholders' income, improved surplus generation from its existing policyholder book, and lower strain from new business.

The insurer’s value of new business (VNB), a key measure of profitability from new policies, rose 24.9% YoY to ₹571 crore during the quarter. The VNB margin also expanded by 220 basis points to 26.7% in Q1FY27.

Total premium income increased 14.5% YoY to ₹10,251 crore, while new business premium grew 21.3% to ₹4,866 crore. Net premium income stood at ₹9,749 crore, up 14.7% from the year-ago period.

The company’s annualised premium equivalent (APE), which tracks new business sales in the life insurance industry, grew 14.6% YoY to ₹2,136 crore during the quarter. Within this, overall protection APE rose 45.7%, while retail protection APE increased 60.4%.

ICICI Prudential Life said the strong growth in the protection segment continued for the third consecutive quarter, with retail protection business recording more than 40% YoY growth.

Retail new business sum assured increased 45.9% YoY to ₹1.13 lakh crore. The company’s total in-force sum assured, representing the life cover held by customers, stood at ₹48.06 lakh crore as of June 30, 2026.

The insurer’s assets under management (AUM) rose 2.9% YoY to ₹3.34 lakh crore at the end of the June quarter. The total cost-to-premium ratio stood at 21.8% compared with 21.2% in Q1FY26, mainly due to higher contribution from the protection business.