 "HDFC Life to raise exposure to capital goods stocks on govt infra push")
Private sector insurer HDFC Life on Friday reported a 19 per cent year-on-year (YoY) increase in its net profit to Rs 326.24 crore in the July–September quarter (Q2FY23).
The rise in profit was driven by growth in the back book, which in turn was a result of good persistence and growth in renewal premiums.
Value of new business (VNB) of the insurer increased 10.3 per cent YoY to Rs 748 crore in Q2 against Rs 678 crore in the year-ago period. VNB is the present value of all future profits to shareholders measured at the time of writing the new business
The rise in profit was driven by growth in the back book, which in turn was a result of good persistence and growth in renewal premiums.
Value of new business (VNB) of the insurer increased 10.3 per cent YoY to Rs 748 crore in Q2 against Rs 678 crore in the year-ago period. VNB is the present value of all future profits to shareholders measured at the time of writing the new business
