WITH A WEALTH of experience and a visionary approach, Vibha Padalkar, MD & CEO of HDFC Life, has been instrumental in shaping the insurer’s success amid an evolving market landscape. In an interaction with Business Today, she talks about strategic insights, innovative initiatives, and reflects on HDFC Life’s performance in FY24. Edited excerpts:
How has HDFC Life performed in FY24?
Despite changes in the Budget, we delivered a healthy growth of 20% in Q4 after adjusting for the one-off business of ? 1,000 crore in March 2023. We achieved our aspiration of double-digit growth for a full year by clocking 11% growth in FY24 on a normalised basis. We achieved individual Annual Premium Equivalent (APE) growth of 1% on an unadjusted basis. Growth momentum continued across ticket sizes of up to ? 5 lakh with robust growth of 19% for the full year. Tier II and III markets recorded growth of 13%. The number of policies for the year has increased by 11%.
The two subsidiaries are doing well. The pension subsidiary, which is wholly-owned, has crossed ₹75,000 crore of assets under management (AUM), and our Dubai subsidiary (HDFC International Life & Re) was the first one to set up its branch in GIFT City, and two products have already been launched. One is a dollardenominated student savings plan, and the other one is a dollar-denominated health plan.
Why were there margin pressures this year?
هذه القصة مأخوذة من طبعة May 12, 2024 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 12, 2024 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
