Comments
HDFC Standard Life reported a 15 per cent growth in profit for the third quarter ended December 2017 at ₹207 crore. The company reported 20 per cent growth in premium income at ₹5,419 crore.
Commission expenses rose 60 per cent to ₹262.5 crore; benefits paid too rose nearly 60 per cent to ₹3,120 crore.
HDFC Standard Life, the third-largest private sector insurer in the country, was reporting its first results after its successful ₹8,695-crore initial public offering (IPO) in November 2017.
The company’s 13th month persistency ratio (to judge whether customers are continuing to pay their premiums) improved to 85.7 per cent (80.7 per cent) while its 25th month persistency rose to 74.5 per cent (72.6 per cent).
The company’s solvency ratio was at 191 per cent, comfortably above the regulatory minimum of 150 per cent.
The company’s average ticket size per policy rose 10 per cent to ₹43,554.
The company has declared and paid an interim dividend of ₹1.36 per equity share of face value ₹10 each for the nine-month period ended December 31.
The HDFC Standard Life share closed ₹1 lower today at ₹482.95. The scrip had listed at ₹311 in mid-November.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.