Journey Simplification and Business Resilience
Analysis of change in IEV
EVOP 23.5
EVOP1%
18.4%
10.9
6.6
1.4
- 6.0
-3.2
11.2
266.2
VNB
Unwind
Operating
variances³
Covid Wave
2 impact
Economic
variances
Dividend &
ESOP
exercises
176.3
89.8
IEV at Mar 31, 2021
Post-EMR²
EVOP1% 16.1%
Adjusted Net worth (ANW)
Value of in-force business (VIF)
Operating variance continues to be positive and in line with our assumptions
Unutilised reserves of about Rs 2 bn carried into H2 FY22
1. EVOP% calculated as annualised EVOP (Embedded Value Operating Profit) to Opening EV
EMR: Excess mortality reserve
2.
3.
10
10
Persistency variance: 0.8, Expenses and Others: 0.6
287.0
194.4
92.6
Rs bn
IEV at Sep 30, 2021
growth
Profitable
Diversified
leading
Market-
distribution mix
innovation
insurance
Reimagining
Quality of
management
Board and
HDFC
LifeView entire presentation