HDFC Life Insurance Q4 Profit Down 14.4%
Money & Banking
HDFC Life Insurance posted a 14.4 per cent drop in net profit to ₹311.71 crore in the fourth quarter of FY20 against ₹364.01 crore in the same period a year ago. Its net premium income grew by a marginal 2.1 per cent to ₹10,464.46 crore in the January to March quarter of FY20 when compared to ₹10,247.50 crore a year ago.
For FY20, its net profit inched up by 1.4 per cent to ₹1,295.27 crore against ₹1,276.79 crore in FY19. In a statement, it said its annualised premium equivalent (APE) grew 18 per cent to ₹7,407 crore in 2019-20 from ₹6,260 crore a year ago.
The value of new business increased by 25 per cent to ₹1,919 crore last fiscal from ₹1,537 crore in the previous fiscal.
As on March 31, 2020, its assets under management amounted to ₹1.3 lakh crore with a debt: equity mix of 71:29.
Vibha Padalkar, Managing Director and CEO, HDFC Life said: “We continue to deliver growth higher than industry and register steady performance across all key metrics. We believe that insurance remains a multi-decade opportunity with significant potential.”
Published on
April 27, 2020
HDFC Life Insurance posted a 14.4 per cent drop in net profit to ₹311.71 crore in the fourth quarter of FY20 against ₹364.01 crore in the same period a year ago. Its net premium income grew by a marginal 2.1 per cent to ₹10,464.46 crore in the January to March quarter of FY20 when compared to ₹10,247.50 crore a year ago.
For FY20, its net profit inched up by 1.4 per cent to ₹1,295.27 crore against ₹1,276.79 crore in FY19. In a statement, it said its annualised premium equivalent (APE) grew 18 per cent to ₹7,407 crore in 2019-20 from ₹6,260 crore a year ago.
The value of new business increased by 25 per cent to ₹1,919 crore last fiscal from ₹1,537 crore in the previous fiscal.
As on March 31, 2020, its assets under management amounted to ₹1.3 lakh crore with a debt: equity mix of 71:29.
Vibha Padalkar, Managing Director and CEO, HDFC Life said: “We continue to deliver growth higher than industry and register steady performance across all key metrics. We believe that insurance remains a multi-decade opportunity with significant potential.”
Published on
UPDATE: USAA Delivers $150 Million In Loans Within 48 Hours To Serve Members Impacted By Government Shutdown
FOR THE MOST UP-TO-DATE DATA ON USAA SHUTDOWN ACTIVITY, VISIT USAA STORIES: LINK Read more
USAA Names Rob Arena President Of Life Insurance Company
Sep 30 2025 SAN ANTONIO – September 30, 2025 – USAA has appointed Rob Arena as Preside... Read more
USAA Prepares Financial Assistance To Serve Members Impacted By Potential Government Shutdown
No-interest loan and payment relief options among the benefits that eligible members can access Read more
USAA, NFL Extend Long-standing Partnership
USAA to continue providing exceptional Salute to Service NFL experiences to the military community Read more
Nearly Half Of Gen Z Doesnt Know What Affects Their Credit Score, According To New USAA Report
Study Reveals Gaps in Young Adults’ Credit Knowledge and Optimism for Financial Growth Read more
USAA Stands With Our Communities To Provide Support Amid Devastating Texas Floods
Association commits $500,000 and activates employee volunteers to support Read more