Q1-FY24 · Vibha Padalkar
We can get to 30% if we were to lose market share, but our market share, as you see, has actually expanded by 90 bps, right? There will always be a trade-off in terms of we want to stay relevant.
HDFCLIFE / language trends
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HDFC Life Insurance Company · tone and specificity signals across the available quarters.
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What changed in management language.
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Q1-FY24 · Vibha Padalkar
We are capacitized for higher growth with upfront investments in manpower, distribution, infrastructure, and technology.
Q1-FY24 · Vibha Padalkar
The 70% is not a number that we are articulating, it's up to the bank how they see it.
Q1-FY25 · Vibha Padalkar
We are committed to investing for long-term growth by expanding our geographical reach and tapping into new customer segments. These initiatives will help drive our growth trajectory over the next 3-4 years.
Q1-FY25 · Vibha Padalkar
We will be flexible in trading off margins within a range in order to pursue these objectives.
Q1-FY25 · Eshwari Murugan
Our actual experience of surrenders is negligible, based on which our assumptions factor in close to zero surrenders.
Q1-FY26 · Vibha Padalkar
We are consciously reinvesting any margin gains into building long-term capability.
Q1-FY26 · Vibha Padalkar
Our aspiration is to continue to outpace industry growth while sustaining our position amongst the top three in India.
Q1-FY26 · Niraj Shah
The delta in margins across all the segments is very much there... It's just that the delta across each of these segments is lower than what it used to be three to four years back.
Q2-FY24 · Vibha Padalkar
We have insured more than 3 crore lives across our individual and group businesses, which represents a YoY growth of 16%.
Q2-FY24 · Suresh Badami
We have ended quarter one, H1 at a 62% market share. In September, we were higher than 70% share.
Q2-FY24 · Vibha Padalkar
This year is a little bit of a mixed year in terms of digesting our tax changes... we expect a more or less flattish margin.
Q2-FY25 · Vibha Padalkar
In the pecking order, I'll go for growth, I'll go for new customer acquisition, and second is I will grow VNB. Margins will be an outcome as long as it's range bound.
Q2-FY25 · Vibha Padalkar
We are not tethering ourselves to a margin... it is fairly counterproductive.
Q2-FY25 · Vineet Arora
We have already done commercial negotiations with most of our partners. Some of them are still underway.
Q2-FY26 · Vibha Padalkar
The recent GST revisions are a constructive structural shift aimed at simplifying compliance and improving affordability. We have ensured that the full benefits of the GST exemption are passed on to our customers.
Q2-FY26 · Vibha Padalkar
We are actively implementing a series of measures to neutralize the GST-related impact on a run-rate basis over the next two to three quarters. We expect to see restoration of a more normalized VNB growth next year, i.e., FY 2027, led primarily by top-line expansion.
Q2-FY26 · Niraj Shah
The biggest impact for us is on unit-linked products. The rest of the products are, in some sense, fairly benign compared to the impact that we have on unit-linked products given the cap on charges.
Q3-FY24 · Vibha Padalkar
We have not dropped margins. So, if you versus peers, there has been a fairly significant margin drop. So if there's a margin drop, then selling more of unit linked as a percentage, perhaps more aggression on some of the products, is not very difficult.
Q3-FY24 · Niraj Shah
The regulator is aware of similar long-term products available both globally as well as in India, and the kind of trade-offs that an investor or a customer needs to make between guarantees and liquidity.
Q3-FY24 · Vibha Padalkar
We are gunning for a double-digit growth in quarter four. Excluding the INR 1,000 crore.
Q3-FY25 · Vibha Padalkar
We are happy to share that we have been able to equitably share the impact between us and our partners.
Q3-FY25 · Vibha Padalkar
Our focus has been on growing both agency channel or proprietary channel, which includes agency and direct, as well as tie-ups with other banks.
Q3-FY25 · Vibha Padalkar
We are not overthinking as to where ULIP might be or might not be because regardless of it, we have remained range-bound.
Q3-FY26 · Vibha Padalkar
We remain on track to largely neutralize the impact over the next couple of quarters.
Q3-FY26 · Niraj Shah
Our aspiration to double VNB every four, four and a half years remains the way it is.
Q3-FY26 · Eshwari Murugan
The drop in persistency is mainly on specific cohorts, and that is what we will want to address.
Q4-FY24 · Vibha Padalkar
We are not targeting a margin expansion in this period. We are definitely continuing to see competitive intensity.
Q4-FY24 · Niraj Shah
Protection margins 4 years, 5 years back used to be in three digits. Now, they are much higher than company average margins but nowhere close to where they used to be.
Q4-FY24 · Vibha Padalkar
If we see significant incremental growth opportunities, we will be flexible to trade-off margins while maximizing VNB growth.
Q4-FY25 · Vibha Padalkar
We have successfully managed to contain the impact of the new surrender charge regulations as well as continued preference for unit-linked products.
Q4-FY25 · Vibha Padalkar
Our aspiration remains, against a backdrop of a stable regulatory regime, to consistently outpace sector top-line growth, deliver VNB growth in line with APE growth, and double key metrics every four to four and a half years.
Q4-FY25 · Niraj Shah
We do not really have a target that we're chasing in terms of where we want to land or be at the end of the year. VNB growth is what we will be basically looking for.
Q4-FY26 · Niraj Shah
We are not in a tearing rush to get to that at the cost of growth. Our objective will be to get to fast industry growth and maintain VNB in line with that.
Q4-FY26 · Vibha Padalkar
We can easily match this if we want to match it. There's no way we're going to have a lapse-supported product. We are in the business to sell policies, and we are hoping that the customer stays vested in the policy till the very end.
Q4-FY26 · Vibha Padalkar
We are looking very, very granular with our data to see which customers we can take a, not aggressive, but a calculated call and which ones we absolutely want to avoid. It's not one-size-fits-all.