The company has posted 10% growth in total premium collection to Rs 7560 crore in Q2FY2020, driven by new business growth of 10% and renewal premium also increased 10%. The company has expanded its market share in the private sector to 15.2% based on Individual WRP, on the back of YoY growth of 35%. The company continues to number one amongst private players in total new business premium and group business (received premium) with market share of 22.4% and 28.9% respectively during H1 FY20.

Total number of lives covered increased to 2.9 crore in H1 FY20, growing by 33%. Overall new business sum assured also saw an increase of 68% to Rs 4.4 lakh crore end September 2019 over September 2018.

Protection APE has increased to Rs 580 crore during H1 FY20, from Rs 407 crore in the corresponding period last year, representing a growth of 43%. Annuity APE was at Rs 123 crore in H1 FY20, growing by 17% over H1 FY19. Protection and annuity businesses comprise 28% and 15% of total new business premium respectively.

Within the product mix of the company, the share of non-participating product has jumped to 54% of the Individual APE in H1FY2020 from 15% in FY2019, while that of ULIPs has dipped to 26% from 55%. The share of participating products also dipped to 9% from 18%.

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 30 September 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 1.31 lakh crore, showing an increase of 16% over September 2018. The debt:equity mix stood at 63:37 end September 2019. Almost 96% of debt investments are in GSecs and AAA bonds as on 30 September 2019.

Persistency improved in both the 13/61st month cohort to 89.3%/54.6% from 84.8%/52.4% last year.

Networth increased by 18% to Rs 6396 crore end September 2019, while the solvency ratio of the company stood at 192% end September 2019.

Embedded Value (IEV methodology) increased 23% to Rs 20124 crore with Embedded Value per share rising to Rs 99.7 per share at end September 2019.

The company has maintained strong return on EV at 19.6% in H1FY2020.

Financial Performance H1FY2020:

HDFC Standard Life Insurance Company has posted 10% growth in the net profit to Rs 733.31 crore in H1FY2020. Total Premium increased 18% to Rs 13904.84 crore in H1FY2020, aided by healthy new business growth of 26% and 10% in renewal business. The persistency ratios continued to trend strongly across various cohorts. The value of new business (VNB) grew by 57% to Rs 957 crore, while the new business margins grew to 27.5% for H1FY2020.