HDFC Life insured 5 crore lives in FY25, but 97% were through group schemes

HDFC Life reports its annual earnings for FY25

HDFC Life Insurance Company has reported that it insured over 5 crore lives in FY25, according to its latest Integrated Annual Report.

However, the same report shows the company issued only 12.7 lakh individual policies during the year, implying that the remaining 4.87 crore lives were covered through group insurance schemes.

This 4.87 crore accounts for over 97 percent of the lives insured by HDFC Life in FY25.

Group insurance are typically sold to employers, micro-finance institutions, or affinity groups, and differs significantly from retail life insurance.

The data on metrics like average sum assured per life and ticket size by product category are not available.

In the meanwhile, according to an earlier Moneycontrol report, in Q1 FY26, HDFC Life’s 13th month persistency dropped to 86 percent, down from 87.3 percent the previous year. The 13th month persistency pertains almost exclusively to individual retail policies, not group schemes.

This data comes at a time when the country is still grappling with a 91 percent life insurance protection gap, as per Swiss Re report.