The Board of Directors of HDFC Life approved the audited standalone and reviewed consolidated financial results for the nine month ended December 31, 2022.

The company posted Strong growth in protection on the back of 52% growth in credit protect business.

Commenting on the 9M FY23 performance, VibhaPadalkar, MD & CEO said “While globally, headwinds persist from an economic perspective, India appears to be relatively better positioned. Insurance as a sector continues to be a beneficiary of a relatively robust economy, stable savings trends and favourable regulatory regime. Against this backdrop, we continue to maintain a steady growth trajectory. In Q3, we grew by 17% in terms of Individual WRP, which is ahead of industry growth. On a YTD basis, we grew by 13% leading to a market share of 15.8% amongst private insurers.

The company posted Strong growth in protection on the back of 52% growth in credit protect business.

The company posted 18% growth in PAT to Rs. 1,001 crore.