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Business

HDFC Life Celebrates 25th AGM; Chairman Keki Mistry Highlights Industry Potential and Strong Company Performance

PRNW Agency
Last updated: 17/07/2025 6:20 PM
PRNW Agency
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HDFC Life Celebrates 25th AGM; Chairman Keki Mistry Highlights Industry Potential and Strong Company Performance
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HDFC Life Celebrates 25th AGM; Chairman Keki Mistry Highlights Industry Potential and Strong Company Performance

MUMBAI, India, July 17, 2025 /PRNewswire/ — At its 25th Annual General Meeting (AGM) held in Mumbai, HDFC Life’s Chairman, Mr. Keki Mistry, provided a comprehensive review of the macroeconomic environment, life insurance industry trends, and the company’s performance for FY25.

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Mr. Mistry noted that while global economic uncertainties have eased compared to the previous year, the World Bank’s revised growth projections suggest a cautious global outlook, with GDP expected to grow at 2.3% in 2025 and 2.4% in 2026—down from the earlier forecast of 2.7%. India is expected to maintain its growth momentum, driven by private consumption and increased fixed capital formation. Investment activity is likely to improve due to higher capacity utilization, healthier corporate balance sheets, and sustained government capital expenditure.

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Reflecting on the performance of the Indian life insurance industry, he observed that FY25 witnessed mixed outcomes. Individual Weighted Received Premiums (WRP) rose by 10%, even as the number of policies issued declined by 7%. Private sector insurers, however, showed resilience with a 15% increase in total premiums and a 5% rise in policy count. The total sum assured by Indian life insurers reached ₹102.6 lakh crores as of March 2025—a 16% increase year-on-year.

Emphasizing the sector’s potential, Mr. Mistry highlighted that life insurance penetration in India remains low at just 2.8%, with the country facing the highest protection gap in Asia at 91%. However, a combination of demographic strengths, rising income levels, digital advancement, and regulatory support positions India as the fastest-growing life insurance market among G20 nations, with an expected CAGR of 7.3% from 2025 to 2029, as per Swiss Re.

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During the year, HDFC Life delivered a 17% growth in individual WRP, accompanied by a 9% increase in policy issuances and an 8% rise in average ticket size. The company also attained its highest-ever market share of 11.1% in individual WRP, reinforcing its position among the top three private life insurers in the country.

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Mr. Mistry also reiterated that insurers are tapping into the opportunity by rapidly expanding into Tier 2 and Tier 3 cities, leveraging the distribution networks of partner banks and microfinance lenders to offer appropriate insurance solutions.

The AGM marked a significant milestone in HDFC Life’s journey of driving financial protection and resilience for millions of Indian families.

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About HDFC Life

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Established in 2000, HDFC Life is a leading, listed, long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. The Company has over 70 products (individual and group products) including optional riders in its portfolio, catering to a diverse range of customer needs. HDFC Life continues to benefit from its increased presence across the country, having a wide reach with branches and additional distribution touch-points through several new tie-ups and partnerships. The count of distribution partnerships is over 500, comprising banks, NBFCs, MFIs, SFBs, brokers, new ecosystem partners amongst others. The Company has a strong base of financial consultants.

For more information, please visit www.hdfclife.com . You may also connect with us on Facebook, Twitter, YouTube and LinkedIn.

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Photo: https://mma.prnewswire.com/media/2733323/Mr_Keki_Mistry_Chairman.jpg

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View original content to download multimedia:https://www.prnewswire.com/in/news-releases/hdfc-life-celebrates-25th-agm-chairman-keki-mistry-highlights-industry-potential-and-strong-company-performance-302507911.html

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