Money & Banking

HDFC Life Insurance Q3 profit edges up by 2%

Our Bureau Mumbai | Updated on January 23, 2020 Published on January 23, 2020

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Private sector HDFC Life Insurance posted a 1.9 per cent increase in its net profit in the third quarter of the fiscal at ₹250.24 crore. Its net profit was ₹245.63 crore in the same period a year ago.

Total income grew by 25.2 per cent to ₹11,648.72 crore (₹9,303.50 crore).

Net premium income rose by 13.9 per cent to ₹7,854.30 crore (₹6,897.68 crore).

“We have sustained growth momentum across our proprietary channels, coupled with steady performance across our corporate partners. Our market share basis individual weighted received premium has increased by 160 basis points to 14.3 per cent,” said Vibha Padalkar, Managing Director and CEO, on the nine month performance of the company.

The assets under management at the end of the third quarter stood at ₹1.4 lakh crore.

 

Published on January 23, 2020
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