In an interview with CNBC-TV18, Vibha Padalkar, MD & CEO of HDFC Life, said the company was on the path to growing faster than the industry
HDFC Life’s second-quarter performance was largely in line with expectations.
In an interview with CNBC-TV18, Vibha Padalkar, MD & CEO of HDFC Life, said the company was on the path to growing faster than the industry.
“There is no reason to believe that we would not grow faster than the industry because given our balanced product offerings, we are reasonably insulated against all equity and debt market concerns,” said Padalkar.
"Premium growth of 12-15 percent looks very achievable," she said.
With regards to the weakness in new business compared to last quarter, she said, "It was largely due to a base impact. Last year they grew much faster in the first quarter than the second quarter but if one evens it out over the full year then one should not look at each quarter performance."With regards to the product mix, Padalkar said, "We are comfortable with ULIP portfolio staying in range of 55-57 percent and expect protection to trend upwards on individual space to 7 percent and APE space in H1 at 17 percent and expect that to continue moving up. Participating products would be in the range of 23-25 percent. That is the kind of product mix expected in Q3 and Q4."