HDFC Life Insurance and ICICI Prudential Life Insurance have reported double-digit growth in profitability for the first quarter of FY27, buoyed by healthy premium collections and increased investment income, with HDFC Life's net profit rising 11.9% and ICICI Pru's by 27.8%.
HDFC Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
On the occasion of International Women's Day, Vibha Padalkar, ED and CFO, HDFC Life, offers a five-step plan for urban women to attain financial freedom.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
HDFC Standard Life's CFO and ED Vibha Padalkar shares her success mantras.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
'Margins will be an outcome of that. They will likely remain somewhat range-bound.'
'We do not believe in fire sale. We don't do it.'
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
