From The Economic Times · ET Bureau · · 1m 10s
HDFC Life Profit Rises 14% in Sept Quarter
HDFC Life Insurance reports 14% higher profit for September quarter as premium income grows.
In brief
HDFC Life Insurance reports 14% higher profit for September quarter as premium income grows. HDFC Life Insurance posted a 14% increase in standalone net profit to ₹508 crore for the September quarter, driven by higher premium income and expanded sales of non-participating savings, annuity, and protection products…
HDFC Life Profit
HDFC Life Insurance reported a 14% increase in standalone net profit to ₹508 crore for the September quarter, compared with ₹447 crore a year earlier.
Premium Income Growth
Net premium income increased 16% to ₹21,727 crore from ₹18,777 crore in the corresponding quarter last year.
Value of New Business
Value of new business margin expanded 20 basis points to 24.7% against 24.5% a year ago.
Solvency Ratio
HDFC Life's solvency ratio improved to 180% from 175% a year earlier, although it declined from 185% at the end of June.
Debt Raise Plan
HDFC Life's board approved raising up to ₹500 crore through subordinated non-convertible debentures.
Distribution Rules Change
The proposed overhaul of insurance distribution and commission rules could disrupt sales channels by April 1, 2027.
The big picture
HDFC Life Insurance posted a 14% increase in standalone net profit to ₹508 crore for the September quarter, driven by higher premium income and expanded sales of non-participating savings, annuity, and protection products.
