The company settled 2.9 lakh death claims in FY21 resulting in payouts of Rs 3,000 crore.
HDFC Life posts 17 pc individual WRP growth for FY21 ANI | Updated: Apr 27, 2021 12:41 IST
Mumbai (Maharashtra) [India], April 27 (ANI): HDFC Life Insurance has recorded 17 per cent growth in terms of individual weighted received premium (WRP) during FY21 on a base of 19 per cent growth in FY20.
In comparison, the private industry grew by 8 per cent on a base of 5 per cent growth in FY20. HDFC Life sold about 9.8 lakh new individual policies, registering a YoY growth of 10 per cent.
The value of new business (VNB) increased by 14 per cent to Rs 2,185 crore on the back of consistent growth, balanced product mix and cost efficiencies, thereby translating to new business margin of 26.1 per cent.
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Morning News Call - India, April 26 Reuters 3 hrs ago To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC IN 04262021.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH • 3:00 pm: SIAM to host panel discussion on electric mobility. • 3:50 pm: HDFC Life Insurance Company Managing Director and Chief Executive Vibha Padalkar at a conference call on 4Q earnings. • 5:30 pm: SBI Cards and Payment Services management at an analyst call post 4Q earnings. • 6:30 pm: Tech Mahindra management at a conference call post 4Q earnings. PROMOTION LIVECHAT - MARKETS WEEK AHEAD Wayne Cole, Reuters Chief Treasury Correspondent joins the forum with updates on markets. To join the discussion at 9:30 am IST, click on the link: https://refini.tv/2P8N0Wp INDIA TOP NEWS • PM Mo
Net premium income increased by 22.85% to Rs 12,869.55 crore in Q4 FY21 over Q4 FY20.
The company s net income from investments stood at Rs 6,015.42 crore in Q4 March 2021 compared with loss of Rs 10,229.92 crore in Q4 March 2020.
Profit before tax in Q4 FY21 stood at Rs 310.21 crore, up by 9.07% from Rs 284.41 crore in Q4 FY20.
HDFC Life s consolidated net profit rose 4.89% to Rs 1,360.87 crore on 18.31% increase in net premium income to Rs 38,148.81 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
The company recorded robust growth of 17% in terms of Individual Weighted Received Premium (WRP) during FY21, on a base of 19% growth in FY20. In comparison, the private industry grew by 8% on a base of 5% growth in FY20.