Page 2 - Hdfc Life Insurance Company

Deepak Parekh steps down as chairman, non-executive director of HDFC Life

The company said that it has appointed Keki M Mistry as the chairman of the Board

HDFC Life Q4FY24 results: Net profit up 14.8% Y-o-Y at Rs 411 cr

Net premium income was Rs 20,488 crore, up 5.4% from Rs 19,426 crore last year

Stocks to Watch: Infy, Bajaj Auto, Voda Idea, ICICI Lombard, Tata Comm, Zee

Stocks to watch on Thursday, April 18, 2024: Vi FPO opens today. Bajaj Auto and Infosys scheduled to report Q4 results; analysts expect single-digit growth in revenues from the latter.

LIC to keep offices open on March 30, 31 to facilitate tax saving

Life Insurance Corporation will keep its offices open on March 30 and March 31 to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. The RBI had earlier this month directed banks to keep their designated branches open for government transactions up to the normal working hours on March 30 and March 31, 2024. In a statement, the public sector insurer said as per the advisory by the insurance regulator IRDAI, LIC has decided to extend this special measure to the policyholders. "It has been decided that the Offices under the jurisdiction of zones and divisions will be kept open for normal operations as per official working hours on 30.3.2024 and 31.3.2024, in order to avoid any hardship to the policyholders," LIC said in a statement.

HDFC Life gets GST demand orders of Rs 27 cr for short payment of taxes

HDFC Life Insurance Company on Thursday said it has received GST demand orders of over Rs 27 crore for alleged short payment of taxes. In two separate regulatory filings, the insurer said it has received tax demand orders of over Rs 16.5 crore and Rs 10.5 crore from authorities for alleged short payment of GST and input tax credit claim mismatch. The demand orders include interest and penalty as well. The company said it will file appeals against the GST demand orders before the Appellate Authority. Shares of HDFC Life settled 1.27 per cent higher at Rs 634.20 apiece on the BSE.

Robust growth ahead for pvt insurers; HDFC Life may see stronger momentum

HDFC Life may see stronger momentum as merger synergies kick in

In HDFC Bank integration process, 70% of HDFC top executives to retire

The absence of the leadership from HDFC is likely to make the integration process smoother and faster as the leadership from the HDFC bank will drive the process

HDFC Life, Muthoot Fin: 75% stocks in financial services index eye bull-run

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.

CBIC slaps Rs 942 crore demand notice on HDFC Life Insurance Company

Insurer faces charge of wrongly availing tax credit under GST rules

HDFC Life hits 52-week high; up 3% as CCI permits HDFC to increase stake

The CCI in its meeting held on June 20, 2023, has granted its approval to HDFC to increase its stake in HDFC Life to more than 50 per cent.

Macquarie downgrades 3 private sector insurers on growth concerns

At present, HDFC Life trades at 15.3x its projected VNB for FY25, while ICICI Pru and SBI Life trade at 8.1 times and 9.5 times, respectively

UK-based abrdn offloads remaining 1.66% stake in HDFC Life Insurance

Among the buyers were Aditya Birla Sun Life Mutual Fund, ICICI Prudential MF, SBI MF, Societe Generale and T Rowe Price

LIC has edge over private insurers: Gains market share in FY23

Top private insurance firms shed 447 bps as national insurer gets aggressive in group biz

HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter

Value of new business (VNB) of the insurer was up 10.3 per cent YoY to Rs 748 crore in Q2FY23 compared to Rs 678 crore in the year-ago period

Abrdn sells 2% stake in HDFC Life at Rs 574 a share, mops up Rs 2,469 cr

Societe General bought shares worth Rs 469 cr, Integrated Core Strategies bought shares worth Rs 287 cr and Norges Bank bought shares worth Rs 234 cr

Supply-side constraints weigh on retail protection biz for life insurers

Protection segment, overall, has witnessed decent growth, mainly because of strong traction in the credit life business, buoyed by disbursement from banks and NBFCs.

Insurance stocks: Analysts see decent upside in HDFC Life, ICICI Lombard

Though Q1 was disappointing, there are triggers that could lead to improvement in the performance of the two insurers

HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves

VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%

HDFC Life Insurance to raise up to Rs 350 crore debt capital via bonds

The bonds will be listed on wholesale debt market segment of NSE

Insurance Gazette: What lies ahead of insurers in post-pandemic world

Having emerged from the pandemic largely unscathed, the sector is set to benefit from an unprecedented pick-up in demand. Where it goes from here, however, depends on its ability to innovate