BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
HDFC Life Insurance Company Ltd. reported ~28% YoY growth in premium, led by 40%/19% YoY growth in single/first year premium. Persistency trends improved across cohorts, with 13th/61st month persistency improving 100 basis points QoQ each to 92%/57%.
Shareholders’ profit after tax grew 3% YoY to Rs 2.74 billion (10% miss). Value of new business growth stood at 22% YoY (~11% beat), with VNB margin coming broadly in line at 26.7%.
HDFC Life's embedded operating profit after tax grew 18.6% YoY in 9MFY22 (16.2% growth post the impact of excess mortality reserve of Rs 6.5 billion).
On the annual premium equivalent front, the individual protection business grew 20% YoY versus a 2% YoY growth in 9MFY22, while strong trends continued in annuity and non-par savings business.
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