IN THE NINE MONTHS ENDING DECEMBER 31, 2022, THE VALUE OF THE COMPANY’S NEW BUSINESS HAS BEEN RS 2163 CRORE. THIS IS MORE THAN DOUBLE THE RS 923 CRORE IN THE SAME PERIOD LAST YEAR.
HDFC Life Insurance Company Limited (HDFC Life Insurance Company) has released the results for the December quarter of the financial year 2022-23 on 20 January. During this period, the company’s net profit has increased by 15 percent to Rs 315.22 crore. The company has benefited from growth in new business during this period. The value of new business of the company in the December quarter has been Rs 875 crore, which is higher than the estimate. A poll conducted among three brokerage houses had estimated that the company’s new business value in the December quarter could be at Rs 861 crore, up 13 per cent year-on-year.
 The value of the company’s new business in 9 months was Rs 2163 crore.
In the nine months ending December 31, 2022, the value of the company’s new business has been Rs 2163 crore. This is more than double the Rs 923 crore of the same period last year. Explain that the main standard of profit for life insurance companies is VNB i.e. Value of New Business. It includes profit and New Business Margin (NBM) from the total business of the company in a given period. This shows how much the company benefits from each policy.
VNB is used to measure the profitability of new policies sold over a period. NBM is a system used by insurers to measure the cost and profit of selling new policies.
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HDFC Life ‘s VNB growth was driven by growth in new policy sales and strengthening margins. “We have doubled our VNB in ​​the past and would like to grow in the range of 18-20 per cent going forward,” said Neeraj Shah, chief financial officer of the company.
business growth
HDFC Life’s first-year premium grew by 29 per cent year-on-year to Rs 2,724.87 crore in the December quarter. Which was Rs 2115.97 crore in the same period last year.
