)
HDFC Life said it is looking to grow atbetween 15-18% in the current fiscal year. HDFC life is the lifeinsurance venture of HDFC bank.
"We aim to grow 2-2.5 times of the GDP thisyear," Sanjay Tripathy, the company's senior executive vice-president ofmarketing, product, digital and e-commerce, said.
The ratings and research company Credit RatingInformation Services of India Limited has projected the Indian GDP to grow by7.4% during 2015-16.
The company, for the fiscal year ended March 31,2015, raised Rs 3,310 crore as first year premium collection while the totalamount for the same fiscal period stood at Rs.14,830 crore.
The total premium collectionfrom April 2014 to March 2015 grew by 23% at Rs.6,580 crore compared to2013-14.
HDFC Life is a joint venture between HDFC Ltd andUK-based Standard Life Plc where the Indian company has 70.64% stakewith the UK-based firm owing 26%.
The rest of the stakes are owned bythe Azim Premji Trust and others.
