HDFC Life has revised its growth outlook for the fiscal year, increasing its target from 15% to 18-20%. Despite a strong performance, the company indicated that the share of Unit Linked Insurance Plans (ULIP) is unlikely to reach 50% of the product mix, expecting it to stay at around 30%.
Padalkar noted that the share of Unit-Linked Insurance Plans (ULIPs) is expected to remain stable around 30% of the product mix, as opposed to reaching the 50% mark. “We will likely need some flexibility on the margin front,” she added, highlighting the company’s strategic approach to maintaining profitability while balancing product offerings.
In its Q2 FY25 results, HDFC Life reported a 15% year-on-year increase in net profit, reaching ₹433 crore, surpassing market expectations. The growth was driven by strong premium collections and robust investment income. Net premium income for the July-September quarter rose 12.3% on-year to ₹16,570 crore.
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