HDFC Life Insurance Company Ltd reported a 3.2 per cent rise in profit after tax (PAT) to Rs 449 crore for Q2FY26. This was slightly below Zee Business Research’s estimate of Rs 480 crore. Net premium income (NPI) grew 13 per cent to Rs 18,871 crore, close to the projected Rs 19,150 crore. On a sequential basis, PAT declined 18 per cent from Rs 548 crore in Q1FY26.

New business and VNB

Individual new business annualised premium equivalent (APE) reached Rs 6,471 crore, higher than Zee Business Research’s standalone estimate of Rs 4,270 crore, reflecting solid growth in individual business. The value of new business (VNB) margin stood at 24 per cent, slightly below the estimated 24.3 per cent, partly due to GST input credit adjustments.

Premium mix, renewals, and market share

Total premi

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