HDFC Life Poised for Growth Amid Favorable Indian Economic Outlook
At HDFC Life's 25th AGM, Chairman Keki Mistry reviewed the macroeconomic environment and life insurance trends. Despite mixed industry outcomes, HDFC Life achieved significant growth, expanding distribution across India. Emphasizing low penetration and a substantial protection gap, Mistry outlined the sector's growth potential amidst India's economic strengths.
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- India
At its 25th Annual General Meeting in Mumbai, HDFC Life Chairman Keki Mistry reviewed key aspects of the macroeconomic environment, industry trends, and the company's performance in FY25.
Mistry highlighted that while global economic uncertainties have lessened, the World Bank still projects a cautious global economic outlook, with GDP growth forecasted at 2.3% for 2025. In contrast, India is expected to maintain growth momentum due to factors like private consumption and increased investment activity.
The Indian life insurance industry saw mixed results in FY25. While Individual Weighted Received Premiums grew by 10%, the number of policies issued decreased by 7%. HDFC Life reported a 17% growth in individual premiums, a 9% increase in policies issued, and an 11.1% market share.
(With inputs from agencies.)
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