Financial Daily from THE HINDU group of publications
Tuesday, May 04, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 04, 2004 |
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Money & Banking
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Life Insurance HDFC Standard posts 76% rise in biz premium Our Bureau
Mumbai , May 3 HDFC Standard Life Insurance Company Ltd today recorded a 76 per cent rise in new business premium over the previous financial year at Rs 232.5 crore for the fiscal ended March 31, 2004. The company has also declared fourth bonus for its policyholders, said a press release. The sum assured crossed the Rs 13,500-crore mark during the year. The company has covered over 450,000 lives so far. The growth has been driven by HDFC Standard Life partnering very closely with its bancassurance partners, consolidating its presence across locations, said the release quoting Mr Deepak Satwalkar, Managing Director and CEO. The company's group business in 2003-04 included the coverage of over 73,000 lives for a sum assured of over Rs 4,300 crore.
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