The value of new business (VNB) jumped 52% to Rs 777 crore in Q4FY2021 from Rs 512 crore in Q4FY2020. The company has posted a 22% surge in total premium collection to Rs 12910 crore, driven by a 29% surge in new business premium, while the renewal premium income also moved up 15%.

The company ranked number 2 in terms of Individual WRP with market share expanding by 130 bps from 14.2% to 15.5%. Its private market share within the group and overall new business segment stood at 27.6% and 21.5% respectively.

The company continues to maintain a balanced product mix with a share of participating savings, non-participating savings, ULIPs, protection and annuity accounting for 34%, 31%, 24%, 7% and 5% of Individual APE respectively. The focus on the retiral segment resulted in 46% growth in the Annuity business.

The diversified distribution network of the company comprises a wide spectrum of over 300 partners, including more than 50 new-ecosystem partners. This is supplemented by 390 branches across the country.

The Assets under Management surged 37%to Rs 173839 crore end March 2021 over Rs 127226 crore end March 2020. The Debt:Equity mix was 64:36, while about 98% of debt investments were in G-Secs and AAA bonds end March 2021

Networth increased by 21% to Rs 8430 crore end March 2021, while the solvency ratio of the company was healthy at 201% end March 2021.

Embedded Value (IEV methodology) increased 29% to yoy Rs 26617 crore with Embedded Value per share rising to Rs 131.7 per share at end March 2021.

Financial Performance FY2021:

HDFC Life Insurance Company has posted 5% growth in the net profit to Rs 1360.10 crore in FY2021. Total Premium increased 18% to Rs 38584 crore in FY2021, aided by new business growth of 17% and 20% in renewal business. The value of new business (VNB) rose 14% to Rs 2185 crore, while the new business margins improved to 26.1% for FY2021 from 20.5% in FY2020.