The company is expanding its distribution by adding new branches and resources, Padalkar told Mint in an interview. “We stand out as the only major insurance company to aggressively grow our branches, and have added more than 200 new branches over the past 24 months,” she said. “These strategic moves are projected to drive significant top-line growth in times to come, ensuring we maintain our competitive edge.” HDFC Life’s net profit increased 15% to ₹1,800 crore in 2024-25. Individual annualised premium equivalent (APE) grew 18% to ₹13,620 crore, and renewal premium rose 13% to ₹37,680 crore. In comparison, individual APE growth for domestic private life insurers was 15% in FY25, according to a note by Phillip Capital. “HDFC Life has delivered consistently over the years, driven by its focus on a balanced product mix and conservative operating assumptions,” the brokerage said in a note last month. India’s life insurance sector has been facing a slew of disruptions in recent years. In FY22, the Union government removed tax exemptions for unit-linked insurance plans (Ulips) of over ₹2.5 lakh, and in FY24, for traditional savings products of over ₹5 lakh. In FY25, India’s insurance regulator introduced tighter surrender value guidelines for insurers, which increased costs, disrupted distribution channels, and restructured distributor commercials. Padalkar said she is in favour of “lighter touch regulations and not tweaking business models” for the sector. “There has been a close correlation between changes in business model with the growth of the sector. As an industry and regulator, the need of the hour is to focus on expanding the pie.”Also Read | HDFC Life is a one-eyed king among the blind An expanding footprint and regulatory hurdlesHDFC Life Insurance has more than 300 distribution partners, including small finance banks, non-banking financial companies, and new ecosystem players. In FY25, it added 40 bancassurance partnerships, under which partner banks distribute HDFC Life’s products to their customers. Unlike other bank-backed insurers, HDFC Life operates an open architecture model, which means HDFC Bank Ltd sells insurance products of multiple insurers, including HDFC Life. Despite criticism of misselling via the bank insurance distribution model, Padalkar supports it, given the channel’s 6-7-fold higher reach than the life insurance industry. Rising instances of such misselling in a hunt for higher commissions prompted a call by the Union finance ministry in November to curb such incidents. HDFC Life has a network of more than 650 branches and 240,000 agents. SBI Life Insurance is estimated to have more than 1,000 branches. But it follows under a closed architecture model, which means all branches of its promoter bank, State Bank of India, operate as SBI Life branches and only sell its products. Macquarie Res in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. 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HDFC Life relies on a comprehensive strategy to maintain its top position, yet concerns about profit margins persist.
