HDFC Life sees better margins in Q4

17 days ago Moneycontrol

HDFC LifeLeading private sector life insurer HDFC Life expects its margins to improve further in the fourth quarter, having already neutralised the hit it had taken from the merger of Exide Life three quarters earlier than expected. The company closed the December quarter with a new business premium margin of 26.8 percent. Its first-year premium stood at Rs 2,724.87 crore, up from Rs 2,115.97 crore, and the renewal premium soared to Rs 7,187 crore from Rs 5,543.03 crore. Its total premium stood at Rs 37,907 crore as of December 2022 up, from Rs 31,542 crore in December 2021. Its embedded value scaled up massively to Rs 37,702 crore from Rs 29,543 crore and the value of new business rose to Rs 2,163 crore from Rs 1,780 crore.
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