ALM Strategy and Insurance Market Opportunities
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Financial and operational snapshot (2/2)
H1 FY24
H1 FY23*
FY23*
FY22
FY21
Overall New Business Margins (post overrun)
26.2%
26.2%
27.6%
27.4%
26.1%
Operating Return on EV
16.4%
16.9%
19.7%
16.6%
18.5%
Total Expenses (OpEx + Commission) / Total Premium
19.7%
19.3%
19.8%
16.5%
16.4%
Return on Equity
(1)
12.0%
12.4%
11.9%
10.1%
17.6%
Solvency Ratio
Persistency (13M / 61M)
Individual WRP Market Share (%)
194%
86%/53%
15.7%
210%
203%
87%/51%
16.1%
87%/52%
16.5%
176%
87%/54%
14.8%
201%
85%/49%
15.5%
Business Mix (%)
- Product (UL/Non par savings/Annuity/Non par protection/Par)
(2)
- Indl Distribution (CA/Agency/Broker/Direct)
(2)
- Total Distribution (CA/Agency/Broker/Direct/Group)
(3)
- Share of protection business (Based on Indl APE)
- Share of protection business (Based on Overall APE)
Share of protection business (Based on NBP)
35.3%
28/28/8/6/30 21/37/6/4/31 19/45/5/4/27 26/33/5/6/30 24/31/5/7/34
65/18/7/11 57/18/8/17 56/20/11/13 60/14/6/19 61/13/7/19
25/8/3/11/54 24/8/3/16/49 25/9/4/13/49 24/6/2/16/52 25/6/2/17/50
5.9%
4.4%
4.1%
5.6%
6.8%
16.6%
15.6%
13.3%
13.6%
12.8%
31.7%
29.0%
24.0%
19.6%
1.
Calculated using net profit and average net worth for the period (Net worth comprises Share capital, Share premium and Accumulated profits). Opening networth for FY23 has
been adjusted in line with the scheme of merger approved by the court
2.
Based on individual APE. UL: Unit Linked, Trad: Traditional, Par: Participating & CA: Corporate Agents. Percentages are rounded off
3.
Based on total new business premium including group. Percentages are rounded off
* H1FY23 and FY23 numbers are on a merged basis
HDFC
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