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HDFC Life posts strong growth of 57% in Value of New Business, 38% in APE

Posted On: 2019-10-23 16:55:46

HDFC Life Insurance Company Limited (formerly HDFC Standard Life Insurance Company Limited) ('HDFC Life' / 'Company') (BSE Code: 540777 NSE Code: HDFCLIFE) has announced the financial results for the quarter ended September 30, 2019.

Key Highlights:

- Ranked #1 in total new business premium
- Industry leading NBM of 27.5%
- Solid Operating return on EV of 19.6%
- Term APE growth of 43%
- Healthy PAT Growth of 10%

Commenting on the half year's solid performance, Ms. Vibha Padalkar, MD & CEO said "We have delivered strong performance across all key metrics and have continued to sustain our profitability. Despite a challenging macro-environment, we have grown by 35% on Individual WRP, compared to industry growth of 11%. This has enabled us to increase our market share by 220 basis points to 15.2%. Our diversified distribution mix is underpinned by the strong growth of our proprietary channels, coupled with steady performance across our corporate partners. We remain committed to tap the immense protection and retirals opportunity in India. We expect our continued product innovation and advancements in the use of technology to sustain our performance across business cycles. These factors put us in a good position to harness the long term growth potential of the life insurance industry and provide the best value proposition to our customers, partners and shareholders."

Shares of HDFC Life Insurance Company Ltd was last trading in BSE at Rs.608.15 as compared to the previous close of Rs. 611.55. The total number of shares traded during the day was 396033 in over 9969 trades.

The stock hit an intraday high of Rs. 625.5 and intraday low of 601.1. The net turnover during the day was Rs. 242843103.


Source: Equity Bulls

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