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
Military Community Shows Financial Resilience, Growing Savings By 19% And Cutting Credit Card Balances By 23% Over Last Five Years, New USAA Bank Data Shows
USAA’s Military Financial Wellbeing Index highlights the impact of pandemic-era trends and inflation on service member... Read more
USAA Announces Scholarship For Military Spouses With Valero Alamo Bowl
San Antonio-area military spouses qualify to apply for a $7,500 scholarship. Read more
USAA Ranked #1 In Customer Satisfaction And Most Trusted On 2024 J.D. Power Individual Annuity Study
Nov 01 2024 SAN ANTONIO – USAA, a leading provider of insurance, banking, and retirement... Read more
USAA Calls For National Moment Of Veteran Connection On Veterans Day
On Nov. 11, “Connect with a Veteran” calls for all Americans to “Go Beyond Thanks” to show appreciation for thei... Read more
Two Way Street: New Survey From USAA Shows Driving Apps Help Connect Parents And Young Drivers On Importance Of Safe Driving, Leading To Safer Roads
Data Reveals 87% of App-Using Parents Feel Their Child’s Driving Improved, Citing Increased Awareness and Feedback Read more
USAA Named UTSA Athletics Official Military Appreciation Partner
Exciting new initiatives planned as part of partnership Read more