HDFC Life Insurance- Premium Growth Steady; Persistency Trends Improving: Motilal Oswal
A loan file sits on a desk at an HDFC branch in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

HDFC Life Insurance- Premium Growth Steady; Persistency Trends Improving: Motilal Oswal

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 Standard Life Insurance Ltd. reported improvement in new business APE, led by the Annuity and PAR businesses, while the trend in Retail Protection remained weak in Q3 FY21.

VNB margins improved to 26.4%, aided by a rise in the Annuity business and cost control. Absolute VNB, thus, grew 27% YoY in Q3 FY21.

On the persistency front, better trends were witnessed in the PAR/Protection business; thus, 13th/25th month individual premium persistency improved ~200 basis points/500 basis points YoY.

Overall, shareholders’ PAT in Q3 FY21 grew at 6% YoY to ~INR 2.6 billion (below estimates).

Click on the attachment to read the full report:

Motilal Oswal HDFC Life Insurance Q3FY21 Result Update.pdf


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