Reimagining Growth with Resilience

Focus on profitable growth Accounting Profit Economic Profit FY19 FY20 FY21 FY22 Rs bn New business Margin 24.6% 25.9% 26.1% 27.4% Value of new business 15.4 19.2 21.9 26.8 Profit after tax (PAT) 12.8 13.0 13.6 12.11 Underwriting profits 9.0 10.9 7.3 4.4 Shareholders' surplus 3.8 2.1 6.3 7.7 Growth impacted by EMR² created due to Covid 29.9 32.3 34.9 25.5 Underwriting profits breakup -16.5 -19.1 -25.0 -30.5 1. 2. 10 10 FY19 FY20 FY21 FY22 ■Backbook Surplus ■New Business Strain Impacted by excess mortality reserve (EMR) created due to Covid. Post wave 2, PAT in Q3 & Q4 improved steadily, with PAT for Q4 registering a 12% YoY growth EMR: Excess Mortality Reserve Profitable growth distribution mix Diversified leading Market- insurance Reimagining Quality of Board and innovation management HDFC Life

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