LIC has done well to see off competition from private life insurers, whose market share in the five months came down to 26.94 percent, from 30.28 percent a year earlier.
New business margins rose to 29.8 percent in Q1FY20 compared to 24.2 percent a year ago
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 9.5 points or 0.08 percent. Nifty futures were trading around 11,847-level on the Singaporean Exchange.
The new plan will come with Rs 4 lakh life cover from HDFC Life.
Prabhudas Lilladher said as financial markets remain volatile, ULIP sales growth could continue to be slow
'We remain interested in inorganic growth, we have the currency and we will continue to evaluate every opportunity that comes our way', HDFC Life's CEO Vibha Padalkar said.
In terms of business mix, the share of ULIPs increased to 59 percent in 9M FY19 vs 57 percent in FY18 and remained well within the management’s guided range of 50 percent -60 percent.
The private sector insurer's profit stood at Rs 207.32 crore in the same quarter of 2017, HDFC Life said in a statement.
HDFC Life was listed on the exchanges in November 2017
The following article is an initiative of Reliance General Insurance Company Limited and is intended to create awareness among the users.
The fourth quarter usually accounts for the largest chunk of new business premium for life insurers.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy HDFC Life, V Guard Industries and Cholamandalam Investment and can sell Equitas Holdings.
At 45, if a customer purchases a plan of Rs 50 lakh with a deferment period of 10 years, he can get an annuity rate of 12 percent with an annuity amount of Rs 6 lakh each year
In its first results post the listing on the stock exchanges, the insurer saw new premiums of Rs 7,070 crore being collected for the April to December 2017 period, showing a growth of 33 percent over same period in FY17
While every good thing comes at a price, so does the IPO of HDFC Life. The bankers have priced the issue at a premium that leaves little on the table by way of short-term gains.
The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 percent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 percent, holding by Standard Life Mauritius.
Going forward, the companies are looking to collaborate on combi products as well as product research
The offer includes 19,12,46,059 equity shares of Rs 10 each of HDFC Life. The company said the size of the offer, price and other details will be determined in due course
The draft of IPO papers did not mention anything about Max Life merger in any form.
In an interview to CNBC-TV18, Amitabh Chaudhry, MD & CEO of HDFC Life spoke about the latest happenings in the company.