IRR changes due to interest rates, not regulations: HDFC Life MD & CEO

HDFC Life on Tuesday reported a 14.85 per cent year-on-year increase in net profit at Rs 433 crore for the second quarter (Q2) of 2024-25 (FY25), mainly driven by growth in backbook. The value of new business (VNB) rose 17.1 percent year-on-year to Rs 938 crore in the second quarter, compared to Rs 801 crore in the same period last year. The insurer’s VNB margin, a measure of profitability, shrank to 24.3 percent from 26.3 percent last year as low-margin unit-linked policies dominated product sales. The stock market then closed 3.6 percent lower