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
USAA To Expand Workforce In Chesapeake To Support Growing Membership
Company adding more than 500 employees in the area over the next two years Read more
USAA Advocates For Safe Driving Habits During 100 Deadliest Days Of Summer For Teens
New Safe Driving Simulator virtual experience helps drivers identify bad habits ahead of summer travels Read more
USAAs Poppy Wall Of Honor® Returns To National Mall For Sixth Year To Honor And Remember Fallen Service Members
Enhanced experience provides immersive storytelling to illustrate all that was given in service to our country Read more
USAA Appoints Brian Goldman As Chief Risk Officer
USAA announced today the appointment of Brian Goldman as its new Chief Risk Officer, effective May 27. Read more
Strong Financial Performance Reflects USAAs Unwavering Commitment To Members And The Military Community
Association added 1 million new members and continued to serve the military community and their families through enhance... Read more
USAA And The Valero Texas Open Join Forces To Honor Military Heroes
Service Members and Veterans to Receive Exclusive Benefits and Complimentary Access Read more