HDFC Life Q4 net profit at Rs 274 crore

HDFC Life today reported an 8 per cent rise in net profit at Rs 274 crore for the fourth quarter ended March 31, 2017.
HDFC Standard Life Insurance Company (HDFC Life) is a non-listed joint venture subsidiary of Housing Development Finance Corporation (HDFC) Ltd in association with Britains Standard Life.
The company "registered strong growth in individual WRP of 26 per cent in Q4 FY17 after witnessing slowdown in two previous quarter," Housing Development Finance Corporation (HDFC) Ltd said in a BSE filing.
During January-March, its total premium grew by 18 per cent, it said.
For the financial year ended March 31, HDFC Life's profit after tax saw a rise of 9 per cent at Rs 892 crore.

The new business premium was at Rs 8,696 crore, up 34 per, from Rs 6,487 crore in the year-ago period.
The renewal premiums were at Rs 10,749 crore in 2016-17, up 9 per cent, from Rs 9,826 crore in 2015-16. While, the total premium during the just concluded rose 19 per cent to Rs 19,445 crore as against Rs 163,13 crore in the preceding fiscal, the company said.
The assets under management (AUM) stood at Rs 91,742 crore at the end of financial year 2016-17, up 24 per cent, from Rs 74,247 crore in the same period a year ago.