The company has posted 15% growth in total premium collection to Rs 8001 crore in Q3FY2020, driven by new business growth of 16% and renewal premium also increased 14%. The company has expanded its market share in the private sector to 14.3% based on Individual WRP, on the back of YoY growth of 31%. The company continues to number one amongst private players in total new business premium and group business (received premium) with market share of 21.4% and 28.6% respectively during 9MFY20.

Total number of lives covered increased to 4.5 crore in 9MFY20, growing by 29%. Overall new business sum assured also saw an increase of 29% to Rs 4.48 lakh crore end December 2019 over December 2018.

Protection APE has increased to Rs 886 crore during 9MFY20, from Rs 673 crore in the corresponding period last year, representing a growth of 32%. Annuity NBP was at Rs 1839 crore in 9MFY20, growing by 10% over 9MFY19. Protection and annuity businesses comprise 28% and 15% of total new business premium respectively.

The company has a well diversified distribution mix. The diversified distribution mix is demonstrated by the wide access to the customers of 270 plus partners, including more than 40 new-ecosystem partners as on 31 December 2019. This is further supplemented by 421 branches spread across the country.

The company is one of the leading fund managers in India with an AUM of around Rs 1.36lakh crore, showing an increase of 16% over December 2018. The debt:equity mix stood at 63:37 end December 2019. Almost 96% of debt investments are in GSecs and AAA bonds as on 31 December 2019.

Persistency improved in both the 13/61st month cohort to 88.8%/52.6% from 84.2%/49.1% last year.

Networth increased by 17% to Rs 6670crore end December 2019, while the solvency ratio of the company stood at 195% end December 2019.

Embedded Value (IEV methodology) increased 20% to Rs 20841 crore with Embedded Value per share rising to Rs 103.2 per share at end December 2019.

The company has maintained strong return on EV at 19.0% in 9MFY2020.

Financial Performance 9MFY2020:

HDFC Standard Life Insurance Company has posted 8% growth in the net profit to Rs 983.55 crore in 9MFY2020. Total Premium increased 17% to Rs 22092.07 crore in 9MFY2020, aided by healthy new business growth of 22% and 12% in renewal business. The persistency ratios continued to trend strongly across various cohorts. The value of new business (VNB) grew by 45% to Rs 1407 crore, while the new business margins grew to 26.6% for 9MFY2020.