Page 6 - Hdfc Life Insurance

HDFC's life insurance, mutual fund arms to start operations from Gift City

HDFC Life International will cater to NRIs and the global Indian diaspora, and the products Savings, Health and Retirement

HDFC launches life insurance, asset management services from GIFT IFSC

HDFC Group on Thursday announced the launch of its life insurance and asset management services at International Financial Services Centre (IFSC) in Gujarat's GIFT City. HDFC International Life and Re has been set up by HDFC Life, while HDFC AMC International (IFSC) Ltd has been established by HDFC Asset Management Company to offer services to Non-Resident Indians (NRIs) and the global Indian diaspora. While the new unit under brand name HDFC Life International will offer US dollar-denominated life as well as health insurance solutions, HDFC AMC International would provide fund management and advisory solutions as part of its offshore hub, the group said in a statement. "We look forward to further contributing to the India growth story and to make world-class foreign currency denominated insurance solutions available for NRIs and global Indians through HDFC Life International and; Indian investment solutions available to global investors and global investment solutions available to

HDFC Life Q1 profit rises 15% to Rs 415 crore; total premium up 16%

HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year. The company had reported Rs 361 crore profit in April-June 2022-23. The total premium rose 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement. During the latest quarter, the first-year premium collection rose 19 per cent to Rs 5,869 crore from Rs 4,949 crore in the same period a year ago. The company's solvency stands at 200 per cent as compared to 178 per cent in the same quarter a year ago. The board has recommended a dividend of Rs 1.90 per share aggregating to a payout of Rs 408 crore subject to approval by the shareholders. Indian Embedded Value of the company witnessed 29 per cent increase to Rs 41,843 crore at the end June 2023.

Life insurance stocks up on decent growth prospects in first quarter

But analysts' target prices suggest limited upside in HDFC Life and ICICI Pru Life, and between 15-20 per cent for SBI Life, Max Life and LIC

HDFC Bank to sell 2% stake in NSDL IPO; IDBI Bank to sell 22.2 mn shares

In its draft red herring prospectus (DRHP) dated July 7, the depository said the IPO will see sales of 57.3 million shares by its six shareholders

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

Insurer faces charge of wrongly availing tax credit under GST rules

Regulator IRDAI approves transfer of HDFC Life shares to HDFC Bank

HDFC announced a $40 billion deal last year to merge with the top private lender

Sensex ends off record high, rises 195 pts; HDFC twins gain 2%, ITC dips

Closing Bell on June 21, 2023: The benchmark S&P BSE Sensex scaled a fresh all-time high of 63,588 on the BSE in the intra-day trade on Wednesday

A 'nifty' little move: HDFC Life, SBI Life lead earnings upgrades

FY24 earnings growth to be led by BFSI, oil and gas, metal, and automotive

Block deal impact: Sona BLW slips 6%; HDFC Life gains 1%

Around 23.7 million equity shares representing 4 per cent of total equity of Sona Comstar changed hands on the NSE this morning, the exchange data shows.

Abrdn likely to sell its 1.66% stake in HDFC Life via block deals: Report

Back in 2022, Abrdn Investment also divested a 5.58 per cent stake in HDFC AMC for more than Rs 2,300 crore through an open market transaction

Abrdn likely to sell its entire stake in HDFC Life through a block deal

The shares will be sold between Rs 563.2 and Rs 585.15 each. At the upper end of the price band, the block sale would fetch abrdn Rs 2,088 crore

Sensex at 100,000? It's possible, believes Chris Wood of Jefferies

The target implies an upside of nearly 62 per cent from the current levels. Wood believes that India remains the best structural story across world markets.

Increase in premium amount of life insurance a big concern for customers

'Company does not keep in touch' is cited as the potential reason for customers leaving, according to 22 per cent of the people, suggests the report

HDFC Life misses Q4 profit view on higher expenses, PAT rises marginally

The Mumbai-based insurer said its standalone profit after tax rose a marginal 0.3% to Rs 359 crore for the quarter ended March 31

RBI order insures gains for HDFC Life stock; analysts see up to 83% upside

RBI's permission to increase stake in subsidiaries puts an end to the overhang on the stock, said Motilal Oswal in a note

60% private insurers register significant rise in fraud: Deloitte survey

About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said. The survey, conducted in the second quarter of FY2023, was based on interviews with key C-suite stakeholders/senior management responsible for compliance across leading private insurers in India. Technology-led innovation in the insurance sector has brought agility, speed, superior customer .

HDFC Life hits lowest level since May 2020; slumps 17% in two days

The government has lifted tax exemption on life insurance policies issued with aggregate premium of over Rs 5 lakh in a year (other than Ulips) with effect from April 1, 2023

Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.

HDFC Life posts 15% surge in Q3 net to Rs 315 cr, income up to Rs 19,693 cr

HDFC Life on Friday reported a 15 per cent increase in net profit to Rs 315 crore for the third quarter ended December. The private sector insurer's profit stood at Rs 274 crore in the year-ago period, it said in a regulatory filing. Total income increased to Rs 19,693 crore in the latest December quarter from Rs 14,222 crore in October-December 2021. The company's solvency ratio too improved to 209 per cent from 190 per cent as on December 31, 2021. The regulatory requirement is 150 per cent. For the nine months period ended December, the life insurer posted a profit Rs 1,001 crore as against Rs 850 crore in the corresponding period a year ago.