ALM Strategy and Insurance Market Opportunities

Profit Accounting Economic Profit Focus on profitable growth FY21 FY22 FY23 H1 FY23 H1 FY24 Rs bn New business Margin 26.1% 27.4% 27.6% 26.2% 26.2% Value of new business 21.9 26.8 36.7 12.9 14.1 Profit after tax (PAT) 13.6 12.1 13.6 6.9 7.9 Underwriting profits 7.3 4.4 5.9 4.5 3.4 Shareholders' surplus 6.3 7.7 7.7 2.4 4.6 23.3 19.7 44.2 32.3 34.9 18% YoY Growth Underwriting profits breakup -25.0 -30.5 -38.3 -15.3 -19.9 Note: Numbers may not add up due to rounding off 11 FY21 FY22 FY23 H1 FY23 H1 FY24 ■Backbook Surplus ■New Business Strain Profitable distribution Diversified growth first Customer management Risk mix & governance Analytics digital & Technology, HDFC Life

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