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Last Updated : Sep 15, 2020 03:13 PM IST | Source: CNBC-TV18

HDFC Life's CEO says will certainly do better than industry this year

"We will certainly do better than the industry, no doubt about that that we have seen in the first 5 months," HDFC Life CEO Vibha Padalkar said.

CNBC-TV18

HDFC Life Insurance will certainly do better than the industry, said Vibha Padalkar, Managing Director & CEO at the life insurance firm on Tuesday.

The company registered strong growth in business in August with total annual premium equivalent growing 17 percent versus 12 percent in July.

In an interview to CNBC-TV18, HDFC Life's Padalkar spoke at length about the strong showing and whether the company will now raise its guidance for the year from flat to growth on a year-on-year basis. She said that each month is getting better and we should wipe out decline by October.

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"We have already done that in terms of the number of policies that we have sold versus the number of policies sold last year," Padalkar said, adding, "The signature of COVID, especially what we are seeing in metros, is very much there and I would like to wait until the end of October before I start saying that do we have good visibility that this is sustainable. It is only the COVID angle and nothing else, but all things being equal yes, we should register positive growth on a full-year basis."

On the growth front, she said, "We will certainly do better than the industry, no doubt about that that we have seen in the first 5 months. We cannot decouple from India outlook because our customers all belong to different sectors in India and that is why I want to remain little cautious and not give out an outlook, but as visibility is there today we should end up at low single-digit growth at the very least."
First Published on Sep 15, 2020 03:13 pm

tags #HDFC Life

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