INTEGRATED FILING — LI



General information about company

Scrip code 540777
NSE Symbol HDFCLIFE
MSEI Symbol NOTLISTED
ISIN INE795G01014
Name of Company HDFC Life Insurance Company Limited
Type of company Main Board
Class of security Equity
Type Of Insurance Non-Linked Policy And Linked Policy
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 15-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 31-12-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Start date and time of board meeting 15-01-2026   13:15:00
End date and time of board meeting 15-01-2026   15:40:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable





Format for financial results by life insurance companies filed with stock exchanges

Amount in (Lakhs)

Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 10-01-2025 04-01-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
Policyholders' Accounts
1 Income
(i) Gross premium income
(a) First Year Premium 3,34,360.00 9,50,267.00
(b) Renewal Premium 10,47,998.00 28,42,962.00
(c) Single Premium 5,00,474.00 15,09,747.00
Gross premium income 18,82,832.00 53,02,976.00
(ii) Net premium income 18,35,142.00 51,76,207.00
(iii) Income from investments (Net) 10,65,629.00 26,67,593.00
(iv) Other income
1 Other income 9,170.00 24,503.00
Total other income 9,170.00 24,503.00
(v) Transfer Of Funds From Shareholders Account 5,818.00 18,159.00
(vi) Total Income 29,15,759.00 78,86,462.00
2 Expenses
(i) Commission on
(a) First Year Premium 1,14,590.00 3,90,104.00
(b) Renewal Premium 17,591.00 46,057.00
(c) Single Premium 95,065.00 2,00,327.00
Total Commission 2,27,246.00 6,36,488.00
(ii) Net Commission 2,27,516.00 6,37,132.00
(iii) Operating Expenses related to insurance business
(a) Employees remuneration and welfare expenses 1,11,074.00 2,98,292.00
(b) Administration expenses 0.00 0.00
(c) Advertisement and publicity 0.00 0.00
(b) Other operating expenses
1 Other Operating Expenses 1,16,205.00 2,60,348.00
Total other operating expenses 1,16,205.00 2,60,348.00
Total operating expenses related to insurance business 2,27,279.00 5,58,640.00
Total Expenses of Management 4,54,795.00 11,95,772.00
(iv) Provisions for doubtful debts (including bad debts written off) 0.00 0.00
(v) Provisions for diminution in value of investments 463.00 (4,560.00)
(vi) Goods & Service tax charge on linked charges 745.00 25,528.00
(vii) Provision for taxes
Current Tax 419.00 4,785.00
Deffered Tax 0.00 0.00
Total provision of taxes 419.00 4,785.00
(viii) Benefits Paid (Net) 9,22,900.00 27,32,949.00
(ix) Change in actuarial liability 15,37,767.00 39,41,885.00
Total Expenses 29,17,089.00 78,96,359.00
3 Net Surplus(Deficit) (1,330.00) (9,897.00)



4 Appropriations
(a) Transferred to Shareholders A/c 13,986.00 72,453.00
(b) Funds for Future Appropriation (15,316.00) (82,350.00)
5 Details of Surplus / Deficit
(a) Interim bonus paid 79,097.00 2,01,236.00
(b) Allocation of bonus to policyholders 0.00 0.00
(c) Surplus shown in the Revenue Account (1,330.00) (9,897.00)
(d) Terminal bonus paid 17,538.00 40,958.00
Total Surplus (Deficit ) 95,305.00 2,32,297.00



SHAREHOLDERS ' Account

Amount in (Lakhs)

1 Income
(i) Transfer from Poliycholders' Account 13,986.00 72,453.00
(ii) Income under Shareholders' Account
(a) Investment Income 41,990.00 1,10,347.00
(b) Other income
1 Other income 2,454.00 6,910.00
Total Other income 2,454.00 6,910.00
Total income under shareholders account 44,444.00 1,17,257.00
Total Income 58,430.00 1,89,710.00
2 Expenses
(i) Expenses other than those related to insurance business 8,298.00 24,444.00
(ii) Transfer of funds to policyholders account 5,818.00 18,159.00
(iii) Provisions for doubtful debts (including write off) 0.00 0.00
(iv) Provisions for diminution in value of investments 213.00 (156.00)
Total Expenses 14,329.00 42,447.00
3 Profit/ (loss) before tax 44,101.00 1,47,263.00
4 Provisions for tax 2,282.00 5,780.00
(i) Current tax 2,282.00 5,780.00
(ii) Deffered tax 0.00 0.00
5 Profit / (loss) after tax and before Extraordinary Items 41,819.00 1,41,483.00
6 Extraordinary Items (Net of tax expenses) 0.00 0.00
7 Profit/ (loss) after tax and Extraordinary Items 41,819.00 1,41,483.00
8 Dividend per share
(a) Interim Dividend 0.00 0.00
(b) Final Dividend 0.00 0.00
9 Profit/(Loss) carried to Balance Sheet 10,58,377.00 10,58,377.00
10 Paid up equity share capital 2,15,762.00
11 Reserve & Surplus (excluding Revaluation Reserve) 14,77,181.00 14,77,181.00
12 Fair Value Change Account and Revaluation Reserve (Shareholders) 67,120.00
13 Assets
(i) Investments:
(a) Shareholders 19,89,116.00
(b) Policyholders Fund excluding Linked Assets 2,44,26,279.00
(c) Assets held to cover Linked Liabilities 1,13,71,311.00
Total Investments 3,77,86,706.00
(b) Other Assets (Net of current liabilities and provisions) 2,68,620.00
Total Assets 3,80,55,326.00
14 Analytical Ratios
(i) Solvency Ratio 180.0 180.0
(ii) Expenses of Management Ratio 24.1100 22.4500
(iii) Policyholder 's liabilities to shareholders' fund 2,044.55 2,044.55
(iv) Earnings per share (Rs.):
(a) Basic and diluted EPS before extraordinary items (net of tax expense) for the period (not to be annualized) 1.94 6.56
(b) Basic and diluted EPS after extraordinary items (net of tax expense) for the period (not to be annualized) 1.94 6.56
(v) NPA ratios: (for policyholders' fund)
(a) Gross NPAs
Non Linked
Par 922.04 922.04
Non Par 800.15 800.15
Linked
Par 0.00 0.00
Non Par 5,990.49 5,990.49
Net NPAs
Non Linked
Par 0.00 0.00
Non Par 0.00 0.00
Linked
Par 0.00 0.00
Non Par 0.00 0.00
% of Gross NPAs
Non Linked
Par 0.0100 0.0100
Non Par 0 0
Linked
Par 0 0
Non Par 0.100 0.100
% of Net NPAs
Non Linked
Par 0 0
Non Par 0 0
Linked
Par 0 0
Non Par 0 0
(vi) Yield on Investments (on policyholders' fund)
(a) Without unrealised gains
Non Linked
Par 2.2700 6.3800
Non Par 2.2800 7.0900
Linked
Par 0 0
Non Par 2.3400 8.4700
(b) With unrealised gains
Non Linked
Par 3.0900 6.500
Non Par 0.5900 -0.4600
Linked
Par 0 0
Non Par 4.6700 10.5200
(vii) NPA ratios: (for shareholders' fund)
(a) Gross NPAs 1,344.09 1,344.09
Net NPAs 0.00 0.00
(b) Percentage of Gross NPAs 0.0700 0.0700
Percentage of Net NPAs 0 0
(viii) Yield on Investments (on shareholders' fund)
(a) Without unrealised gains 2.23 6.03
(b) With unrealised gains 2.75 6.98
(ix) Persistency Ratio
1 13th Month 79.4700 84.900
2 25th Month 72.9200 77.9900
3 37th Month 70.2200 71.8600
4 49th Month 69.1200 71.1600
5 61st Month 62.3500 63.2900
(ix) Other Rations
(x) Conservation Ratio 84.8500 85.600
(xi) Percentage of shares held by Government of India (in case of public sector insurance companies) 0 0


Investor Compliants
(i) No of investor complaints pending at the beginning of the period 0 0
(ii) No of investor complaints during the period 0 0
(iii) No of investor complaints disposed off during the period 0 0
(iv) No of investor complaints remaining unresolved at the end of the period 0 0



(c) Notes Format for financial results by life insurance companies filed with stock exchanges
1. Net of reinsurance ceded and accepted including HDFC Re, wholly owned subsidiary 2. The persistency ratios are calculated in accordance with the IRDAI circular no. IRDAI/F&A/CIR/MISC/256/09/2021 dated September 30, 2021 and hence are with a lag of one month. 3. The persistency ratios for the quarter ended December 31, 2025 have been calculated for the policies issued in the September to November period of the relevant years. E.g.: the 13th month persistency for the current quarter is calculated for the policies issued from September 2024 to November 2024. The persistency ratios for quarter ended December 31, 2024 have been calculated in a similar manner.



Format for financial results by life insurance companies filed with stock exchanges

Amount in (Lakhs)

Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 10-01-2025 04-01-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
Segment Income
1 Name of segment Segment A - Participating - Individual & Group Life
(i) Net premium 3,78,560.00 9,83,120.00
(ii) Income form investments 1,58,870.00 4,24,845.00
(iii) Transfer of funds from shareholders' account 23.00 214.00
(iv) Other income 5,503.00 15,108.00
2 Name of segment Segment B - Participating - Individual & Group Pension
(i) Net premium 13,142.00 74,231.00
(ii) Income form investments 4,453.00 15,547.00
(iii) Transfer of funds from shareholders' account 6.00 36.00
(iv) Other income 81.00 173.00
3 Name of segment Segment C - Non Participating - Individual & Group Life
(i) Net premium 6,98,459.00 19,61,217.00
(ii) Income form investments 2,80,336.00 8,07,780.00
(iii) Transfer of funds from shareholders' account 153.00 402.00
(iv) Other income 3,353.00 8,687.00
4 Name of segment Segment D - Non Participating - Life Group Variable
(i) Net premium 21,262.00 60,924.00
(ii) Income form investments 4,150.00 12,454.00
(iii) Transfer of funds from shareholders' account 1.00 1.00
(iv) Other income 1.00 2.00
5 Name of segment Segment E - Non Participating - Individual & Group Pension
(i) Net premium 9,015.00 36,909.00
(ii) Income form investments 5,444.00 16,437.00
(iii) Transfer of funds from shareholders' account 3,921.00 6,421.00
(iv) Other income 7.00 25.00
6 Name of segment Segment F - Non Participating - Individual & Group Pension Variable
(i) Net premium 7,552.00 52,296.00
(ii) Income form investments 3,297.00 12,235.00
(iii) Transfer of funds from shareholders' account 1.00 1.00
(iv) Other income (1.00) 1.00
7 Name of segment Segment G - Non Participating - Individual & Group Annuity
(i) Net premium 1,29,167.00 4,19,078.00
(ii) Income form investments 66,260.00 1,91,779.00
(iii) Transfer of funds from shareholders' account 6.00 28.00
(iv) Other income 65.00 194.00
8 Name of segment Segment H - Non Participating - Individual & Group Health
(i) Net premium 1,049.00 1,944.00
(ii) Income form investments 53.00 190.00
(iii) Transfer of funds from shareholders' account (101.00) 262.00
(iv) Other income 0.00 1.00
9 Name of segment Segment I - Unit Linked - Individual Life
(i) Net premium 4,54,887.00 12,08,842.00
(ii) Income form investments 4,75,023.00 10,49,549.00
(iii) Transfer of funds from shareholders' account 484.00 1,466.00
(iv) Other income 84.00 225.00
10 Name of segment Segment J - Unit Linked - Individual Pension
(i) Net premium 24,408.00 79,193.00
(ii) Income form investments 30,593.00 59,325.00
(iii) Transfer of funds from shareholders' account 1,320.00 9,324.00
(iv) Other income (2.00) 1.00
11 Name of segment Segment K - Unit Linked - Group Life
(i) Net premium 84,505.00 2,52,503.00
(ii) Income form investments 31,121.00 69,421.00
(iii) Transfer of funds from shareholders' account 4.00 4.00
(iv) Other income 1.00 7.00
12 Name of segment Segment L - Unit Linked - Group Pension
(i) Net premium 4,727.00 24,781.00
(ii) Income form investments 5,436.00 12,055.00
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.00 1.00
13 Name of segment Segment M - Reinsurance
(i) Net premium 8,409.00 21,169.00
(ii) Income form investments 145.00 676.00
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 78.00 78.00
14 Name of segment Shareholders
(i) Net premium 0.00 0.00
(ii) Income form investments 41,777.00 1,10,503.00
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 2,454.00 6,910.00
15 Name of segment Unallocated
(i) Net premium 0.00 0.00
(ii) Income form investments 0.00 0.00
(iii) Transfer of funds from shareholders' account 0.00 0.00
(iv) Other income 0.00 0.00



Notes to Segment Income
Textual Information 1. Segments include: a. Linked Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable b. Non-Linked: 2. Participating Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable c. Variable insurance shall be further segregated into Life and Pension. 2. Net of provisions for diminution in value of investment. 3. Includes income tax deposited with tax authorities which is contested by the company and Advance Tax (net of provision for taxation). As per Accounting Standard 17 - Segment Reporting, income tax asset and liabilities cannot be allocated across reporting segments. 4. Segment policy liabilities includes fund for future appropriations and excludes Credit / (Debit) Fair Value Change Account on Policyholders' funds.


Format for financial results by life insurance companies filed with stock exchanges

Amount in (Lakhs)

Partiuclars Current Quarter Year to Date Figures
Date of start of reporting period 10-01-2025 04-01-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
Segment Surplus/(Deficit) (net of transfer from shareholders' A/c)
1 Segment A - Participating - Individual & Group Life 9,472.00 (25,857.00)
2 Segment B - Participating - Individual & Group Pension (14,164.00) (30,282.00)
3 Segment C - Non Participating - Individual & Group Life 325.00 24,876.00
4 Segment D - Non Participating - Life Group Variable 6.00 460.00
5 Segment E - Non Participating - Individual & Group Pension (3,919.00) (6,409.00)
6 Segment F - Non Participating - Individual & Group Pension Variable 43.00 1,173.00
7 Segment G - Non Participating - Individual & Group Annuity 3,477.00 8,603.00
8 Segment H - Non Participating - Individual & Group Health 101.00 (261.00)
9 Segment I - Unit Linked - Individual Life (602.00) 6,615.00
10 Segment J - Unit Linked - Individual Pension (1,307.00) (9,281.00)
11 Segment K - Unit Linked - Group Life (446.00) 2,315.00
12 Segment L - Unit Linked - Group Pension 229.00 638.00
13 Segment M - Reinsurance (103.00) 275.00
14 Shareholders 33,391.00 86,268.00
15 Unallocated 0.00 0.00



Notes Segment Surplus/(Deficit)
Textual Information 1. Segments include: a. Linked Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable b. Non-Linked: 2. Participating Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable c. Variable insurance shall be further segregated into Life and Pension. 2. Net of provisions for diminution in value of investment. 3. Includes income tax deposited with tax authorities which is contested by the company and Advance Tax (net of provision for taxation). As per Accounting Standard 17 - Segment Reporting, income tax asset and liabilities cannot be allocated across reporting segments. 4. Segment policy liabilities includes fund for future appropriations and excludes Credit / (Debit) Fair Value Change Account on Policyholders' funds.


Format for financial results by life insurance companies filed with stock exchanges

Amount in (Lakhs)

Partiuclars Current Quarter
Date of start of reporting period 10-01-2025
Date of end of reporting period 31-12-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Segment Assets
1 Segment A - Participating - Individual & Group Life 78,66,402.00
2 Segment B - Participating - Individual & Group Pension 2,98,695.00
3 Segment C - Non Participating - Individual & Group Life 1,19,38,153.00
4 Segment D - Non Participating - Life Group Variable 1,91,476.00
5 Segment E - Non Participating - Individual & Group Pension 3,00,747.00
6 Segment F - Non Participating - Individual & Group Pension Variable 1,86,385.00
7 Segment G - Non Participating - Individual & Group Annuity 36,81,803.00
8 Segment H - Non Participating - Individual & Group Health 2,365.00
9 Segment I - Unit Linked - Individual Life 91,24,495.00
10 Segment J - Unit Linked - Individual Pension 5,92,722.00
11 Segment K - Unit Linked - Group Life 14,37,859.00
12 Segment L - Unit Linked - Group Pension 2,32,474.00
13 Segment M - Reinsurance 25,686.00
14 Shareholders 20,79,196.00
15 Unallocated 96,870.00


Segment Assets Text Block
Textual Information 1. Segments include: a. Linked Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable b. Non-Linked: 2. Participating Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable c. Variable insurance shall be further segregated into Life and Pension. 2. Net of provisions for diminution in value of investment. 3. Includes income tax deposited with tax authorities which is contested by the company and Advance Tax (net of provision for taxation). As per Accounting Standard 17 - Segment Reporting, income tax asset and liabilities cannot be allocated across reporting segments. 4. Segment policy liabilities includes fund for future appropriations and excludes Credit / (Debit) Fair Value Change Account on Policyholders' funds.


Format for financial results by life insurance companies filed with stock exchanges

Amount in (Lakhs)

Partiuclars Current Quarter
Date of start of reporting period 10-01-2025
Date of end of reporting period 31-12-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Segment Liabilities
1 Segment A - Participating - Individual & Group Life 73,19,536.00
2 Segment B - Participating - Individual & Group Pension 2,68,449.00
3 Segment C - Non Participating - Individual & Group Life 1,18,72,623.00
4 Segment D - Non Participating - Life Group Variable 1,94,188.00
5 Segment E - Non Participating - Individual & Group Pension 2,82,091.00
6 Segment F - Non Participating - Individual & Group Pension Variable 1,84,996.00
7 Segment G - Non Participating - Individual & Group Annuity 36,60,853.00
8 Segment H - Non Participating - Individual & Group Health 2,810.00
9 Segment I - Unit Linked - Individual Life 91,67,183.00
10 Segment J - Unit Linked - Individual Pension 5,92,722.00
11 Segment K - Unit Linked - Group Life 14,39,406.00
12 Segment L - Unit Linked - Group Pension 2,32,474.00
13 Segment M - Reinsurance 23,837.00
14 Shareholders 20,69,960.00
15 Unallocated 0.00


Notes to Segment Liabilities
Textual Information 1. Segments include: a. Linked Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable b. Non-Linked: 2. Participating Policies: (i) Life (ii) General Annuity and Pension (iii) Health (iv) Variable c. Variable insurance shall be further segregated into Life and Pension. 2. Net of provisions for diminution in value of investment. 3. Includes income tax deposited with tax authorities which is contested by the company and Advance Tax (net of provision for taxation). As per Accounting Standard 17 - Segment Reporting, income tax asset and liabilities cannot be allocated across reporting segments. 4. Segment policy liabilities includes fund for future appropriations and excludes Credit / (Debit) Fair Value Change Account on Policyholders' funds.