Hdfc Life Insurance Co. Ltd. · NSE:HDFCLIFE

Hdfc Life Insurance — Q1 FY2023 Earnings Presentation

69 slides from Hdfc Life Insurance's earnings presentation, 2022

  1. Slide 1: Investor Presentation – Q1 FY23

    Investor Presentation – Q1 FY23

  2. Slide 2: Executive summary: Q1 FY23

    Executive summary: Q1 FY23 Revenue & Scale Profitability & Cost Customer & Capital Growth 20% CY 26.8% CY 88% Individual New Business 13th month WRP Market Margin (NBM) persistency1 PY 26.2% PY 86% 14.6% Share Rs (Bn.) 46.2 Rs (Bn.) 5.1 Overall 99.6% Renewal VNB Claim settlement premium Growth 25% r

  3. Slide 3: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 3

  4. Slide 4: Consistent, predictable, sustained performance

    Consistent, predictable, sustained performance Rs bn Holistic growth Consistent track record over multiple periods New business premium Renewal premium VNB 242 218 113 80 122 40 26.8 21.9 19.2 FY14 FY18 FY22 FY14 FY18 FY22 12.8 9.2 7.4 Protection APE2 Annuity new business 13.2 48.7 FY16 FY17 FY18 FY

  5. Slide 5: Demonstrating resilience in the current environment (1/2)

    Demonstrating resilience in the current environment (1/2) Rs bn Strong, sustainable growth Bounce back in CP volumes on the back of higher disbursements1 Overall 8.1% 9.2% 9.3% 8.9% mkt share Pvt. mkt 14.2% 15.5% 14.8% 14.6% share 17% -19% 55% 96% YoY 19% 17% 16% 20% growth _ 53.0 70.0 81.5 42.4 59.

  6. Slide 6: Demonstrating resilience in the current environment (2/2)

    Demonstrating resilience in the current environment (2/2) Rs bn Improving Persistency1 Steady expansion in New Business Margins  Focus on quality 25%  Consistent growth in VNB on the 86% 88% of business and back of topline growth and providing superior increase in margins 51% 54% customer  VNB ha

  7. Slide 7: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 7

  8. Slide 8: Key elements of our strategy

    Key elements of our strategy 1 2 3 4 5 Focus on profitable Diversified Market-leading Reimagining Quality of Board growth distribution mix innovation insurance and management Ensuring Developing multiple Creating new Market-leading Seasoned sustainable and channels of growth product digital capabili

  9. Slide 9: Focus on profitable growth

    Focus on profitable growth Q1 Q1 Rs bn FY20 FY21 FY22 FY23 Profitable FY22 growth 26.8% Economic New business Margin 25.9% 26.1% 27.4% 26.2% Profit Value of new business 19.2 21.9 26.8 4.1 5.1 distribution Diversified Profit after tax (PAT) 13.0 13.6 12.1 3.0 3.7 Accounting mix Profit Underwriting p

  10. Slide 10: Analysis of change in IEV

    Analysis of change in IEV EVOP – 11.7 Rs bn EVOP1% - 16.5% Profitable growth 5.9 5.1 0.7 11.7 300.5 3.4 297.1 VNB Operating Unwind variances Economic Dividend & variances distribution mix ESOP Diversified exercises Adjusted Net worth (ANW) Value of in-force business (VIF) 211.3 211.9 innovation Mark

  11. Slide 11: Diversified distribution mix enabled by multiple levers

    Diversified distribution mix enabled by multiple levers Proprietary1 Banks , SFBs, Other CAs NBFCs, MFIs Brokers & Aggregators Profitable growth 1.2L+ Agents distribution Diversified mix 383 Branches 48 Digital Branches2 www.hdfclife.com HDFC Life App innovation Market- leading Group, Pension & Inte

  12. Slide 12: Balanced product mix in agency enabled by technology and training

    Balanced product mix in agency enabled by technology and training Profitable Secure communication platform for all FAME growth agency stakeholders Agency Life AI & ML based customer interactions Contest launch, updates, qualification, Skilling and engagement and opportunities The Selling Skills rewa

  13. Slide 13: Bancassurance powered by innovation, technology and people

    Bancassurance powered by innovation, technology and people Profitable Product Partner experience Tech & Distribution Capability building & growth proposition & engagement Digitization resourcing Comprehensive Defined One stop Strong presence product suite engagement solution for across Metro, Learni

  14. Slide 14: Simplified sales ecosystem for Direct channel

    Simplified sales ecosystem for Direct channel   Profitable growth  Lead capture  Lead assignment Leads Management  Lead lifecycle  Outgoing customer call management Cloud management Telephony distribution Diversified mix    TEBT  Pitch products & innovation Sales & generate quotes  Custom

  15. Slide 15: iEarn, HDFC Life's hyper-personalized actionable nudge engine

    iEarn, HDFC Life’s hyper-personalized actionable nudge engine iEarn: ML-based mobile platform for sales Key nudges / tasks created to work along with existing technology Profitable growth  Lead generation & meeting  Sales training  Facilitate medical tests  Product mix  Persistency  Avert free

  16. Slide 16: Expanding market through consistent product innovation

    Expanding market through consistent product innovation Profitable growth FY15-18 FY19-22 FY23 distribution Diversified mix Systematic Pension Plan (Par Pension) Click 2 Protect 3D Sanchay Plus (Non- Pension plan that offers an opportunity to participate in the profits Plus (Protection) par savings)

  17. Slide 17: Addressing customer needs at every stage of life

    Addressing customer needs at every stage of life <25 years 25-35 years 36 – 50 years 50+ years Risks Addressed Profitable Objective Simple Savings Borrowing Investments Asset Drawdown growth Pay off mortgage Mortality distribution Diversified Medical care mix Morbidity First Job Medical care Net Wor

  18. Slide 18: Our approach to retiral solutions

    Our approach to retiral solutions 1. NPS Profitable growth ▪ Largest Pension Fund Manager (PFM) in Retail ▪ Market share grew from 35% in Jun’21 to 38% in Jun’22 and Corporate NPS segment, with AUM of Rs amongst all PFMs 301 bn1 ▪ Company has over 1.2 mn customers - ~0.8 mn in retail ▪ Registered st

  19. Slide 19: Product mix across key channels

    Product mix across key channels1 Segment FY20 FY21 FY22 Q1 FY23 Segment FY20 FY21 FY22 Q1 FY23 UL 12% 10% 16% 14% Profitable UL 32% 27% 29% 30% growth Par 34% 37% 33% 36% Agency Par 18% 37% 33% 30% Banca 2 Non par savings 44% 30% 33% 33% Non par savings 40% 39% 39% 38% Term 4% 4% 4% 4% Term 12% 11%

  20. Slide 20: Aligned to make life simpler for customers

    Aligned to make life simpler for customers Profitable growth 1 3 5 distribution Diversified mix Give me a Accelerate SERVICE Give me PLATFORMS simple journey JOURNEY SIMPLIFICATION frictionless Nudge me in my independent from purchase SIMPLIFICATION for connect and world / buying service personaliza

  21. Slide 21: AI-based automated underwriting engine

    AI-based automated underwriting engine Empowering a seamless customer onboarding journey Enhanced risk assessment Profitable growth Applications 72% Auto Underwritten Final UW2 distribution Diversified Decision mix Improvement in Proposal Submission Claim Prediction Reinsurer Rule Engine AI Based AU

  22. Slide 22: Strengthening underwriting and simplifying customer journey

    Strengthening underwriting and simplifying customer journey Cardiac risk assessment at home for medical underwriting Cardiac risk assessment service at home promises convenience to individuals who have to undergo medicals while Profitable growth applying for an HDFC Life insurance policy distributio

  23. Slide 23: Emphasis on digital across customer touch-points

    Emphasis on digital across customer touch-points New business / Customer Employee / Partner Policy servicing Profitable purchase interactions engagement growth ▪ Digital sales journey - End-to- ▪ Digital Renewal collections – ▪ Seamless support experience – ▪ Physical training – 3,500+ end digital s

  24. Slide 24: Governance framework

    Governance framework Board of Directors Profitable growth Independent and experienced Board Committees Risk Policyholder Nomination & Corporate Social Stakeholders’ Audit Investment With Profits Capital Raising Board Management Protection Remuneration Responsibility Relationship Committee Committee

  25. Slide 25: Financial risk management framework

    Financial risk management framework Natural hedges Product design & mix monitoring ▪ Protection and longevity businesses ▪ Prudent assumptions and pricing approach ▪ Unit linked and non par savings products ▪ Return of premium annuity products (>95% of annuity); Average age at entry ~59 years ▪ Defe

  26. Slide 26: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 26

  27. Slide 27: Importance of financial instruments and triggers to buy LI

    Importance of financial instruments and triggers to buy LI1 82% 73% 50% Savings 42% Bank Life Account • Life insurance ranks amongst top 3 26% Insurance Bank financial instruments 10% Fixed Health Deposits 6% Insurance Post Office [Svaasth • Importance of life insurance as an Bima] 4% Pension Scheme

  28. Slide 28: Customer Insights – Women Policyholders

    Customer Insights – Women Policyholders HDFC Life Customer Insights Participation of Women in Life Insurance1 Percentage of female policyholders • Women 3-year APE CAGR growth for women customers: 23% comprise 69% 73% roughly 49% of the total population in 31% 27% India Women constitute >30% of poli

  29. Slide 29: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 29

  30. Slide 30: Exide Life Performance Snapshot: Q1 FY23

    Exide Life Performance Snapshot: Q1 FY23 Scale Profitability & Cost Customer & Capital Others Individual APE VNB Margin (Pre-OR) 13M Persistency Channel Mix1 Rs bn: 1.4 Q1 FY23: >40% Q1 FY23: 74% Agency: 51% Growth: 41.7% Q1 FY22: >40% Q1 FY22: 73% Banca: 7% Broker: 29% Direct: 13% Opex ratio Claim

  31. Slide 31: Integration – Focus areas

    Integration – Focus areas Accelerating revenues … Realizing cost savings … Augmenting proprietary growth channels Optimizing nation-wide geographic presence • Scaling-up with cross-entity best practices and (offices, branches, hubs) brand value Access to wider distribution network with focus Rationa

  32. Slide 32: Exide Life transaction timeline

    Exide Life transaction timeline Step 1: Step 3: Step 5: Step 7: Announcement of Application filed with IRDAI Integration Phase-1 (9- Final IRDAI approval transaction and CCI for acquisition, 12 months) for merger (expected (Sep 3, 2021) ongoing interactions in H2 FY23) ₹   Step 2: Step 4: Step 8:

  33. Slide 33: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 33

  34. Slide 34: ESG at a Glance

    ESG at a Glance ESG Focus Areas Actuarial Financial External Validation ESG • MSCI rating ‘BBB’ in February 2022 Active engagement with external • S&P Global (DJSI) score – 44 in 2021 (14 in 1st Integrated Annual Report agencies including MSCI, S&P 2019) published in June 2022 Global (DJSI) • CRISIL

  35. Slide 35: Ethical Conduct & Governance

    Ethical Conduct & Governance Governance structure & Compensation Risk management and BCM Information/Cyber Security Framework Actuarial Information/cyber security Fraud risk management ISO 27001:2013 and Values program; Corporate governance Board evaluation & Disciplinary Panel for ISMS assessment p

  36. Slide 36: Responsible Investment

    Responsible Investment Responsible Investment Policy Sustainable Equity Fund Objective What is Sustainable Equity fund & why invest in it? To generate optimal risk adjusted returns over the long term This fund shall seek to generate returns from investing in Actuarial companies with high ESG standar

  37. Slide 37: Employee Engagement & Diversity, Equity and Inclusion

    Employee Engagement & Diversity, Equity and Inclusion (DEI) Special Recognition Employee diversity, equity & inclusion o Great Places to Work – 39th amongst top 100 Best Places o Promoting DEI ally ship: leadership o Best workplaces for Women 2021– development, communication, Great Place to Work Ins

  38. Slide 38: Holistic Living: Inclusive Growth

    Holistic Living: Inclusive Growth FY 2021-22 Customer Highlights CSR Numbers Claim settlement ratio (individual & group) Number of lives covered Actuarial 99.6% 5.4 crore Rural sector Customer Satisfaction 1,89,147 Score for March’22 Social sector 88.9 % 1,00,87,909 Financial MFI lives covered under

  39. Slide 39: Holistic Living: Delivering superior customer experience

    Holistic Living: Delivering superior customer experience Customer Centricity Simplifying buying journeys through platforms Online claim processing for eligible Journey simplification – like LifeEasy (online term purchase) customers via EasyClaims platform frictionless sales and Actuarial service Doc

  40. Slide 40: Sustainable Operations

    Sustainable Operations Energy and water Digitization - Reduction of Paper Usage Waste management o Introduction of E-business cards & o Since 2014 only 3 or 5 ID cards star rating air – conditioners used o Online /e-forms for customers Actuarial o 94% of branches use LED o Annual report FY20 & FY21

  41. Slide 41: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 41

  42. Slide 42: Improvement in overall persistency trends

    Improvement in overall persistency trends1 Across key channels (%) CY (Q1 FY23) 93 97 92 93 87 89 88 86 82 80 80 81 80 74 71 72 70 68 Actuarial 58 53 Agency Banca Direct Company Financial 13th month 25th month 37th month 49th month 61st month Across key segments (%) PY (Q1 FY22) 95 93 90 88 90 86 82

  43. Slide 43: Improvement in overall persistency trends

    Improvement in overall persistency trends1 Across key channels (%) CY (Q1 FY23) 91 89 88 83 86 77 80 80 72 68 69 69 64 67 64 63 Actuarial 59 56 53 54 Agency Banca Direct Company Financial 13th month 25th month 37th month 49th month 61st month Across key segments (%) PY (Q1 FY22) 90 93 88 86 83 80 81

  44. Slide 44: Improving VNB trajectory

    Improving VNB trajectory Rs bn 25% 0.4 0.1 0.2 5.1 0.9 Actuarial 4.1 Financial 1 Q1 FY22 Impact of higher APE Change in assumptions New Business Profile Fixed cost absorption Q1 FY23 VNB Growth NBM% 26.2% - -0.8% 2.0% -0.6% 26.8% ESG 1. Reflects the impact of difference in mix of segment/distributio

  45. Slide 45: Sensitivity analysis – FY22

    Sensitivity analysis – FY22 Change in VNB Analysis based on key metrics Scenario % Change in EV Margin 1 Change in Increase by 1% -1.4% -2.0% Actuarial Reference rate Decrease by 1% 0.8% 1.6% Equity Market Decrease by 10% -0.1% -1.4% movement Increase by 10% -0.6% -0.6% Persistency (Lapse rates) Dec

  46. Slide 46: Capital position

    Capital position Rs bn NB premium growth 15% 17% 20% 27% 140.0 201% 210% 184% 190% 178% Actuarial 120.0 176% 101.5 170% 100.0 94.3 97.7 16.2 14.3 150% 24.0 80.0 70.8 27.8 28.4 130% 13.1 60.0 23.4 Financial 110% 19.2 40.0 90% 55.6 56.9 46.9 20.0 38.5 70% - 50% Mar 31, 2020 Mar 31, 2021 Mar 31, 2022 J

  47. Slide 47: Assets under management

    Assets under management Change in AUM 1 Rs bn Debt: Equity 71:29 64:36 63:37 65:35 CY (Q1 FY23) UL:Traditional 43:57 43:57 39:61 37:63 35 3 -78 Actuarial 1% 37% 17% 10% 2,150 2,042 -40 2,001 1,650 Mar 31, 2022 Net Fund Net Market Jun 30, 2022 Inflow Investment Movements Financial 1,150 2,042 Income

  48. Slide 48: Agenda

    Agenda 1 Performance Snapshot 2 Our Strategy 3 Customer Insights 4 Exide Life Transaction Update 5 Our approach to ESG 6 Annexures 7 Life insurance in India Page 48

  49. Slide 49: Growth opportunity: Under-penetration and favorable demographics

    Growth opportunity: Under-penetration and favorable demographics Life Insurance penetration 1 Life Insurance density US$ 2 19.2% (FY 2021) (FY 2021)  India remains vastly under-insured, both in 8,983 terms of penetration and density 14.0%  Huge opportunity to penetrate the 7.6% 4,528 underserviced

  50. Slide 50: Low levels of penetration – Life protection

    Low levels of penetration – Life protection 172 mn 68 mn 1.7 mn Protection gap 2 (2019) 83.0% 76.0% 74.0% 71.0% 70.0%  India has the highest protection gap in 61.0% the region, as growth in savings and life 55.0% 55.0% 54.0% insurance coverage has lagged behind 41.0% economic and wage growth  Prot

  51. Slide 51: Macro opportunity – Retiral solutions

    Macro opportunity – Retiral solutions India’s pension market is under-penetrated at Improvements in life expectancy will lead to an average post 9.3% of GDP retirement period of 20 years 131.7 Life expectancy at age 60 96.8 20 19 18 17 18 17 16 15 50.6 54.3 21.2 9.3 India Japan South Hong Kong USA A

  52. Slide 52: Government bond auctions

    Government bond auctions Government Bonds – Tenorwise Issuance Rs cr 62% 65% 65% 71% 73% 72% 72% 79% 38% 35% 35% 29% 27% 28% 28% 21% FY16 FY17 FY18 FY19 FY20 FY21 FY22 Q1 FY23 <=15yrs 3,66,500 3,73,525 4,97,579 3,82,941 4,44,000 10,01,83 8,48,000 2,82,000 >15yrs 2,25,000 1,54,520 1,80,529 2,04,000 2

  53. Slide 53: Life Insurance: A preferred savings instrument

    Life Insurance: A preferred savings instrument Household savings composition Financial savings mix 22% 18% 20% 22% 3% 8% 12% 15% 14% 19% 18% 19% 16% 47% 17% 17% 65% 60% 17% 68% 67% 56% 50% 53% 53% 32% 35% 40% FY13 FY16 FY19 FY 21 FY13 FY16 FY19 FY21 Financial savings Physical savings Currency & depo

  54. Slide 54: Industry new business trends

    Industry new business1 trends 600 70,000 551 500 60,000 452 420 401 50,000 Individual WRP in Rs bn 400 357 315 325 40,000 304 292 291 305 288 273 285 287 278 300 262 Sensex 230 245 227214 30,000 200208 200 175 178 172 20,000 107 100 67 10,000 0 - FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY2

  55. Slide 55: Private industry: Product and distribution mix

    Private industry: Product and distribution mix Product mix 1 Distribution mix 2 Individual Agents Corporate Agents - Banks Corporate Agents - Others Brokers Direct Business Unit Linked Conventional 61% 57% 9% 10% 10% 12% 14% 56% 16% 16% 15% 54% 3% 52% 51% 51% 5% 4% 3% 3% 3% 3% 3% 3% 48% 49% 49% 3% 3

  56. Slide 56: Appendix

    Appendix 56

  57. Slide 57: Financial and operational snapshot (1/2)

    Financial and operational snapshot (1/2) Q1 FY23 Q1 FY22 Growth FY22 FY21 FY20 CAGR Rs bn. New Business Premium (Indl. + Group) 47.8 37.7 27% 241.5 201.1 172.4 18% Renewal Premium (Indl. +Group) 46.2 38.9 19% 218.1 184.8 154.7 19% Total Premium 94.0 76.6 23% 459.6 385.8 327.1 19% Individual APE 15.5

  58. Slide 58: Financial and operational snapshot (2/2)

    Financial and operational snapshot (2/2) Q1 FY23 Q1 FY22 FY22 FY21 FY20 Overall New Business Margins (post overrun) 26.8% 26.2% 27.4% 26.1% 25.9% Operating Return on EV 16.5% 14.4% 16.6% 18.5% 18.1% Operating Expenses / Total Premium 14.9% 12.5% 12.3% 12.0% 13.1% Total Expenses (OpEx + Commission) /

  59. Slide 59: Revenue and Profit & Loss A/c

    Revenue and Profit & Loss A/c Rs bn Revenue A/c1 Profit and Loss A/c1 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Premium earned 94.0 76.6 Income Reinsurance ceded (1.2) (1.2) Interest and dividend income 1.2 1.2 Income from Investments (34.9) 69.6 Net profit/(loss) on sale (0.2) 1.3 Other Income 0.4 0.2 Transf

  60. Slide 60: Balance sheet

    Balance sheet Jun 30, 2022 Jun 30, 2021 March 31, 2022 Rs bn Shareholders’ funds Share capital (including Share premium) 86.9 25.4 86.7 Accumulated profits 67.3 62.3 67.3 Fair value change (0.3) 1.8 0.8 Sub total 154.0 89.5 154.8 Borrowings 9.5 6.0 6.0 Policyholders’ funds Fair value change 8.9 23.4

  61. Slide 61: Segment wise average term and age

    Segment wise average term and age1 Average Policy Term excluding annuity (Yrs) Average Customer Age excluding annuity (Yrs) Q1 FY23: 22 (Q1 FY22: 24) Q1 FY23: 36 (Q1 FY22: 36) UL 12 13 37 UL 36 Par 39 41 33 Par 33 Non-par Health 25 26 34 Non-par Health 33 Non-par Savings 12 12 38 Non-par Savings 37

  62. Slide 62: Summary of Milliman report on our ALM approach – FY20

    Summary of Milliman report on our ALM approach – FY20 Scope of review Portfolios reviewed • Assess appropriateness of ALM strategy to manage  Portfolio 1: Savings and Protection – All non-single premium interest rate risk in non-par savings business non-par savings contracts and group protection pr

  63. Slide 63: Indian Embedded value: Methodology and Approach (1/2)

    Indian Embedded value: Methodology and Approach (1/2) Overview Indian Embedded Value (IEV) consists of:  Adjusted Net Worth (ANW), consisting of: – Free surplus (FS); – Required capital (RC); and  Value of in-force covered business (VIF): Present value of the shareholders’ interest in the earnings

  64. Slide 64: Indian Embedded value: Methodology and Approach (2/2)

    Indian Embedded value: Methodology and Approach (2/2) Components of Value in-force covered business (VIF)  Present value of future profits (PVFP): PVFP is the present value of projected distributable profits to shareholders arising from the in-force covered business determined by projecting the sha

  65. Slide 65: Embedded Value: Economic assumptions

    Embedded Value: Economic assumptions1 Forward rates % Spot rates % Years As at Jun 30, 2021 As at Jun 30, 2022 As at Jun 30, 2021 As at Jun 30, 2022 1 3.87 5.96 3.80 5.79 2 5.40 7.38 4.53 6.46 3 6.39 7.85 5.08 6.82 4 7.01 7.98 5.51 7.04 5 7.43 8.01 5.84 7.17 10 7.99 8.02 6.72 7.44 15 7.72 8.06 7.00

  66. Slide 66: Glossary (Part 1)

    Glossary (Part 1)  APE (Annualized Premium Equivalent) - The sum of annualized first year regular premiums and 10% weighted single premiums and single premium top-ups  Backbook surplus – Surplus accumulated from historical business written  Conservation ratio - Ratio of current year renewal premi

  67. Slide 67: Glossary (Part 2)

    Glossary (Part 2)  Operating expense - It includes all expenses that are incurred for the purposes of sourcing new business and expenses incurred for policy servicing (which are known as maintenance costs) including shareholders’ expenses. It does not include commission.  Operating expense ratio -

  68. Slide 68: Disclaimer

    Disclaimer This presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities (“Securities”) of HDFC Life Insurance Company Limited (“HDFC Life” or the “Company”) in India, the United Stat

  69. Slide 69: Thank You

    Thank You me 21 YEARS

HDFC Life Insurance Company — Q1 FY2023 Earnings Presentation on 6ix