Multi-Pronged Risk Management and Protection Philosophy

Private industry: Product and distribution mix 43% Product mix 1 ■Unit Linked ■Conventional Distribution mix 2 Individual Agents Corporate Agents - Banks Corporate Agents Others Brokers Direct Business 57% 54% 52% 51% 51% 48% 49% 49% 46% 63% 9% 10% 10% 12% 56% 14% 16% 17% 3% 703 20% 3% 3% 3% 20% 3% 3% 3% 3% 3% 3% 44% 37% 47% 52% 54% 54% 55% 53% 54% 36% 32% 30% 28% 25% 25% 23% FY15 FY16 FY17 FY18 FY19 FY20 9M FY21 FY15 FY16 FY17 FY18 FY19 FY20 9M FY21 47 47 Product mix has recently moved towards conventional business for the private players with high focus on non-par savings, protection Banca sourced business continues to dominate the channel mix on the back of increasing reach of banks along with increase in share of direct channel, while share of Agency has been constant in the last few years 1. Basis Overall WRP (Individual and Group); 2. Basis Individual New business premia for all private players Source: IRDAI and Life Insurance Council HDFC Life

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