HDFC Life Insurance Company logo

HDFC Life Insurance Company share price

NSE: HDFCLIFEBSE: 540777InsuranceLarge Cap

HDFC Life Insurance Company Limited · Formerly HDFC Standard Life Insurance Company · Face value ₹10 · Listed Nov 2017 · Issue price ₹290
Last close ₹524.90up ₹7.90 (1.53%)BSE ₹523.15

Share price at the NSE close on 30 Oct 2026. Previous close ₹517.00.

30 Oct: open ₹518.35, high ₹525.80, low ₹510.50

52-week range of traded prices to 30 Oct 2026
₹508.05Low, 28 Oct 2026₹788.50High, 26 Nov 2025
Market cap
₹1,14,039 Cr65th largest listed
P/E
55.67
P/B
5.86
Dividend yield
0.40%
ROE
11.2%
Solvency
1.80times the capital required
Gross premium
₹79,493 Cr
First-year premium
₹13,959 Cr
Expense ratio
21.18%
Persistency, 13 months
84.85%
Conservation
85.50%
Volume, NSE
25,21,58158.6% delivered

HDFC Life Insurance Company share price chart

Daily closes since Nov 2017, adjusted for splits and bonuses

−29.7%over a year · Nifty 500 −8.2%

Results20-session average 26,07,212 shares a day, 47.9% delivered

About HDFC Life Insurance Company

HDFC Life Insurance Company Limited is a life insurer in India that sells protection, pension, savings, investment, annuity and health policies to individuals, and group term insurance, gratuity and superannuation schemes to employers.12 It sells through banks, among them HDFC Bank, through independent agents and its own sales force, and through brokers, corporate agents and digital partners.34

It groups its products under 3 segments: participating, non-participating and unit-linked.5 Participating policies share in the surplus of their fund and non-participating policies do not; unit-linked policies (ULIPs) pay returns tied to their fund's market performance, with the investment risk borne by the policyholder.56 It writes all its policies in India and has a liaison office in Dubai.72 It has 2 wholly owned subsidiaries: HDFC Pension Fund Management Limited, a pension fund manager under the National Pension System (the government's retirement savings scheme), and HDFC International Life and Re Company Limited, a life and health reinsurer (a company that insures insurers) regulated in Dubai whose GIFT City branch sells US dollar policies to non-resident Indians.89

It was incorporated in Mumbai on 14 Aug 2000 as a joint venture between Housing Development Finance Corporation Limited and Abrdn plc.10 The company says it was the first private life insurer to start operations in India; its shares were listed on the BSE and NSE on 17 Nov 2017.11 HDFC Bank became its holding company and promoter when Housing Development Finance Corporation Limited merged into the bank on 1 Jul 2023.10

HDFC Life Insurance Company key points

Results

  • In the half year to Sep 2026, profit after tax rose 13% to ₹1,119 crore and value of new business (expected profit, in today's money, on policies sold) rose 12% to ₹2,037 crore, a margin of 24.7% against 24.5%.12
  • Overall annualised premium equivalent (annualised first-year regular premiums plus a tenth of single premiums) rose 11% in the half year; embedded value (net worth plus the value of future profit on policies in force) was ₹66,461 crore at the end of September 2026.1314
  • In the year to Mar 2026, on a standalone basis, gross written premium (premium before reinsurance) rose 12% to ₹79,387 crore and profit after tax was ₹1,910 crore, against ₹1,802 crore a year earlier.1516
  • Value of new business for the year to Mar 2026 was ₹4,034 crore, up 2%, at a 24.2% margin, down 140 basis points on GST and surrender value rule changes.17

Market position

  • In the half year to Sep 2026 it ranked 2nd among private life insurers by individual weighted received premium (first-year premium plus a tenth of single premium), with 16.2% of the private market and 11.5% of the industry.18

Revenue mix

  • Share of individual annualised premium equivalent by product19
    Itemhalf year to Sep 2026half year to Sep 2025
    Unit-linked45%42%
    Non-participating savings22%18%
    Participating13%29%
    Annuity12%4%
    Protection8%7%
  • Share of individual annualised premium equivalent by channel (direct sales make up the rest)20
    Itemhalf year to Sep 2026half year to Sep 2025
    Bancassurance (banks)58%59%
    Agency18%18%
    Non-bank alliances15%14%
  • Retail protection grew 33% in the half year, and protection with riders made up 11% of individual annualised premium equivalent.21

Assets, capital and renewals

  • Assets under management (money it invests for policyholders and shareholders) were ₹4.1 trillion at the end of September 2026, up 13.8%, 70:30 in debt and equity; about 98% of the debt is in government bonds and AAA-rated securities.222324
  • Group assets under management, including HDFC Pension, were ₹5.9 lakh crore at the end of September 2026; HDFC Pension managed ₹1.8 lakh crore, up 28%. The company said HDFC Pension was India's largest private pension fund manager by assets in March 2026.252627
  • Its solvency ratio (available capital as a multiple of the capital the regulator requires) was 180% at the end of September 2026, against a regulatory requirement of 150%.28
  • Persistency (the share of policies still being renewed) at 13 months was 83% in the half year to Sep 2026, against 86% a year earlier; at 61 months it was 66%, against 62%.2930

Branches and reach

  • It had 715 branches and 2,71,668 agents at the end of March 2026.3132
  • It sells through more than 500 partners, among them banks, NBFCs, small finance banks, brokers and digital platforms. On its earnings call of 15 Oct 2026, the company said HDFC Bank brought in about 47% to 48% of its business by annualised premium equivalent.3334

What the company expects

  • In its presentation of 15 Oct 2026, the company said it expects to sustain its momentum and grow in line with the industry in the year to Mar 2027.35
  • On its earnings call of 15 Oct 2026, the company said its objective is growth in value of new business in line with, or slightly ahead of, growth in annualised premium equivalent.36
  • On its earnings call of 15 Oct 2026, the company said that, while the regulator's papers on distribution costs are still in consultation, its agency channel would be least affected, banks next, and brokers and corporate agents most.3738

Recent events

  • On its call of 15 Oct 2026, the company said its board had approved raising up to ₹500 crore through subordinated debt (bonds repaid after other creditors), which it expected to complete in the quarter ending that December.39
  • On 19 Aug 2026 the insurance regulator (IRDAI) approved Vibha Padalkar's re-appointment as managing director and chief executive officer for 5 years from 12 Sep 2026.40
  • On 16 Apr 2026 the board approved raising up to ₹1,000 crore through a preferential share issue to HDFC Bank, which it said would add 900 basis points (hundredths of a percentage point) to solvency.4142

Litigation and regulatory matters

  • On 10 Sep 2026 the company received a GST appeal order confirming ₹942.18 crore of tax plus interest and a ₹2,422.97 crore penalty for July 2017 to March 2022; it said it would appeal to the GST Appellate Tribunal, expecting no adverse material impact.43
  • On 6 Mar 2026 the company received a state GST appeals order confirming a demand of ₹104.79 crore of tax and ₹94.31 crore of interest for April 2019 to March 2020; it said it would appeal, expecting no adverse material impact.44

Last updated

All 44 sources, each with its page
  1. 1. Investor presentation, 15 Oct 2026, page 5
  2. 2. Annual report, 24 Jun 2026, page 257
  3. 3. Annual report, 24 Jun 2026, page 45
  4. 4. Annual report, 24 Jun 2026, page 101
  5. 5. Annual report, 24 Jun 2026, page 178
  6. 6. Annual report, 24 Jun 2026, page 179
  7. 7. Annual report, 24 Jun 2026, page 336
  8. 8. Annual report, 24 Jun 2026, page 239
  9. 9. Annual report, 24 Jun 2026, page 42
  10. 10. Annual report, 24 Jun 2026, page 616
  11. 11. Annual report, 24 Jun 2026, page 47
  12. 12. Earnings call, 15 Oct 2026, page 4
  13. 13. Investor presentation, 15 Oct 2026, page 2
  14. 14. Investor presentation, 15 Oct 2026, page 3
  15. 15. Annual report, 24 Jun 2026, page 180
  16. 16. Annual report, 24 Jun 2026, page 193
  17. 17. Annual report, 24 Jun 2026, page 195
  18. 18. Investor presentation, 15 Oct 2026, page 12
  19. 19. Investor presentation, 15 Oct 2026, page 38
  20. 20. Investor presentation, 15 Oct 2026, page 38
  21. 21. Investor presentation, 15 Oct 2026, page 3
  22. 22. Investor presentation, 15 Oct 2026, page 2
  23. 23. Investor presentation, 15 Oct 2026, page 13
  24. 24. Investor presentation, 15 Oct 2026, page 27
  25. 25. Investor presentation, 15 Oct 2026, page 3
  26. 26. Earnings call, 15 Oct 2026, page 4
  27. 27. Annual report, 24 Jun 2026, page 203
  28. 28. Earnings call, 15 Oct 2026, page 4
  29. 29. Investor presentation, 15 Oct 2026, page 4
  30. 30. Earnings call, 15 Oct 2026, page 4
  31. 31. Annual report, 24 Jun 2026, page 45
  32. 32. Annual report, 24 Jun 2026, page 60
  33. 33. Investor presentation, 15 Oct 2026, page 21
  34. 34. Earnings call, 15 Oct 2026, page 19
  35. 35. Investor presentation, 15 Oct 2026, page 2
  36. 36. Earnings call, 15 Oct 2026, page 7
  37. 37. Earnings call, 15 Oct 2026, page 9
  38. 38. Investor presentation, 15 Oct 2026, page 2
  39. 39. Earnings call, 15 Oct 2026, page 4
  40. 40. Exchange filing, 19 Aug 2026, page 1
  41. 41. Annual report, 24 Jun 2026, page 190
  42. 42. Annual report, 24 Jun 2026, page 195
  43. 43. Exchange filing, 11 Sep 2026, page 1
  44. 44. Exchange filing, 7 Mar 2026, page 1

Results

Standalone, as consolidated accounts are on record for only 7 of the last ten years; ₹ crore. Gross premium is what policyholders paid in the period, before the part passed on to reinsurers.HDFC Life Insurance Company quarterly results

Gross premium growth, 12 months
+17.8%
Net profit growth, 12 months
+8.2%

Quarter to Sep 2026, against the quarter before

Gross premium
₹22,402 Cr
Net profit
₹508 Crdown 16.91%

Gross premium by quarter

₹17,275 CrDec 24₹24,032 CrMar 25₹14,875 CrJun 25₹19,287 CrSep 25₹18,803 CrDec 25₹26,422 CrMar 26₹17,166 CrJun 26₹22,402 CrSep 26
Peak gross premium ₹26,422 Cr, quarter to Mar 2026; lowest ₹14,875 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹415 CrDec 24₹477 CrMar 25₹546 CrJun 25₹447 CrSep 25₹421 CrDec 25₹496 CrMar 26₹611 CrJun 26₹508 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Gross premium17,27524,03214,87519,28718,80326,42217,16622,402
Net profit415477546447421496611508
Standalone. The last eight quarters. The latest is shaded.

Business segments

Share of net premium, year to Mar 2026, consolidated.Segment revenue and profit

  • Non Participating - Individual & Group Life₹29,491 Crup 4.57%37.9%
  • Unit Linked - Individual Life₹18,633 Crup 22.65%24.0%
  • Participating - Individual & Group Life₹14,377 Crup 4.95%18.5%
  • Non Participating - Individual & Group Annuity₹6,148 Crup 14.68%7.9%
  • Unit Linked - Group Life₹4,148 Crup 33.20%5.3%
  • Unit Linked - Individual Pension₹1,121 Crup 41.58%1.4%
  • Participating - Individual & Group Pension₹971 Cr1.2%
  • Non Participating - Life Group Variable₹963 Crup 6.64%1.2%
  • Non Participating - Individual & Group Pension Variable₹680 Cr0.9%
  • Non Participating - Individual & Group Pension₹549 Crdown 43.47%0.7%
  • Reinsurance₹340 Cr0.4%
  • Unit Linked - Group Pension₹311 Cr0.4%
  • Non Participating - Individual & Group Health₹29 Cr0.0%
The pill is the change in net premium on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.HDFC Life Insurance Company PE ratio and valuation

Price to earnings

At or below today's level on 0.4% of 1,729 trading days since Apr 2019.

LowestHighest
Its median88.28Industry median30.91
Price to book

At or below today's level on 1% of 1,931 trading days since Feb 2018.

LowestHighest
Its median10.89Industry median4.11
Dividend yield

At or below today's level on 98% of 2,160 trading days since Jan 2018.

LowestHighest
Its median0.29%Industry median0.78%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−13.5%+5.7%−18.5%0.4%
3 years+6.1%+11.6%−5.2%0.3%
5 years−2.9%+5.6%−8.4%0.3%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.HDFC Life Insurance Company shareholding pattern

Shareholding by group

  • Promoters50.53%
  • Foreign institutions18.75%
  • Indian institutions20.54%
  • Individuals and others10.15%
  • Employee trusts0.02%
Holder
HDFC Bank LimitedPromoter50.53%
Exide Industries LimitedCompanies4.01%
Camas Investments Pte. Ltd.Foreign portfolio investors, category I1.68%
Government Pension Fund GlobalForeign portfolio investors, category I1.37%
NPS TrustProvident and pension funds1.29%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.01 pts, foreign institutions −0.52 pts, Indian institutions +0.35 pts, mutual funds +0.30 pts.

The filing reports 1,09,78,66,178 of its 2,17,25,88,981 shares locked in.

Mutual fund holdings

336 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 151 of the 192 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 5 more funds filed their first portfolio on record, holding it.All 336 funds holding HDFC Life Insurance Company

Bought for the first time
18
Bought again
15
Added
113
Cut
79
Held unchanged
106
Sold out
8
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 1 Nov 2025.HDFC Life Insurance Company insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade · 26 pledge filings of unclear kind
  • Others: no market trade · 10 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

HDFC Life Insurance Company competitors and peers

Insurance, 13 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to HDFC Life Insurance Company in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Life Insurance Corporation of India logoLife Insurance Corporation of IndiaLICI4,84,8118.072.53+10.3%+23.3%36.3%–2.61%
SBI Life Insurance Company logoSBI Life Insurance CompanySBILIFE1,66,42562.678.10+16.9%+8.2%13.7%–0.16%
ICICI Lombard General Insurance Company logoICICI Lombard General Insurance CompanyICICIGI78,97930.914.40+14.3%−8.8%15.2%–0.89%
ICICI Life Insurance logoICICI Life InsuranceICICILIFE59,50033.824.07+15.2%+34.0%12.9%–0.40%
General Insurance Corporation of India logoGeneral Insurance Corporation of IndiaGICRE54,5366.060.90+6.6%−6.1%15.7%–4.26%
Max Financial Services logoMax Financial ServicesMFSL41,414–7.24+17.6%––4.1%0.00%
Star Health and Allied Insurance Company logoStar Health and Allied Insurance CompanySTARHEALTH31,22129.624.11–+97.7%14.4%–0.00%
The New India Assurance Company logoThe New India Assurance CompanyNIACL26,193–1.13+5.6%−152.2%−2.4%–0.94%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.HDFC Life Insurance Company dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.4Mar 181.6Mar 19Mar 202.0Mar 211.7Mar 221.9Mar 232Mar 242.1Mar 252.1Mar 26
Highest ₹2.10 a share, years to Mar 2025 and Mar 2026.
Ex-dateTypePer share
19 Jun 2026Final₹2.10
20 Jun 2025Final₹2.10
21 Jun 2024Final₹2.00
16 Jun 2023Final₹1.90
31 May 2022Final₹1.70
30 Jun 2021Final₹2.02
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.HDFC Life Insurance Company announcements

HDFC Life Insurance Company share price by year

Each calendar year to 2025.HDFC Life Insurance Company share price history

YearClose at year endChangeHighest closeLowest close
2025749.85+21.5%814.30594.20
2024617.05−4.6%758.80534.45
2023646.70+14.2%707.35461.40
2022566.25−12.8%674.15503.50
2021649.55−4.0%759.00633.60
2020676.50+8.1%678.70342.30
2019626.05+61.7%636.15346.30
2018387.15+0.3%540.00359.80
2017386.00–395.20344.60
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2017 is from its first session, 17 Nov 2017.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 2026514.00521.60511.20517.00517.7717,77,32660.8%
28 Oct 2026513.65519.15508.05514.10514.2624,93,96056.7%
27 Oct 2026518.60521.70512.00513.60516.1629,46,94156.4%
26 Oct 2026520.00522.05512.50519.00515.9211,37,97134.6%
23 Oct 2026528.35528.35511.50523.75518.5414,34,13138.6%
22 Oct 2026535.00536.90522.05528.35527.769,58,90638.5%
21 Oct 2026544.00547.55531.60539.65538.0313,61,79956.8%
19 Oct 2026553.00555.75542.30545.50545.7515,19,93946.0%
16 Oct 2026550.05554.75532.60553.00545.2253,04,27639.3%
Prices in ₹ per share as traded, not adjusted.

Company details

Chairperson
KEKI M MISTRY
At the end of the quarter to Sep 2026
Managing director and CEO
VIBHA PADALKAR
At the end of the quarter to Sep 2026
NSE symbol
HDFCLIFE
BSE code
540777
ISIN
INE795G01014
Industry
Insurance
CIN
L65110MH2000PLC128245
Corporate identity number, the registrar of companies' code for it
Incorporated
2000
Registered office
Lodha Excelus, 13th Floor, N.M. Joshi Marg, Apollo Mills Compound, Mahalaxmi, Mumbai 400011, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments