Money & Banking

HDFC Life Q2 profit up 7.5%

Our Bureau Mumbai | Updated on October 23, 2019

HDFC Life logo   -  Twitter/HDFC logo

HDFC Life Insurance has registered a 7.56 per cent in net profit to ₹308.69 crore in the second quarter of the fiscal, against ₹286.98 crore a year ago.

Its net premium grew by nearly 10 per cent to ₹7,453.68 crore in the July to September 2019 quarter, when compared to ₹6,777.55 crore in the same period a year ago.

Vibha Padalkar, Managing Director and CEO, HDFC Life, said: “We have delivered strong performance across all key metrics and have continued to sustain our profitability. We expect our continued product innovation and advancements in the use of technology to sustain our performance across business cycles.”

Market share rises

In the first six months of the fiscal, the life insurer increased its market share in the private sector to 15.2 per cent based on Individual WRP, on the back of year-on-year growth of 35 per cent. As on September 30, it has assets under management of more than ₹1.3-lakh crore.

Published on October 23, 2019

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