HDFC Life Q3 Review - Growth Continues; Product Mix To Aid Earnings: ICICI Direct
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ICICI Direct Report
HDFC Standard Life Insurance Company Ltd. reported a good set of numbers led by strong renewal premium, steady persistency and investment income.
Gross premium growth remained healthy at 20.3% YoY to Rs 9628.21 crore, led by higher traction in renewal (up 21.5% YoY) and single premium (up 21.8% YoY).
Growth in renewal premium continued to remain healthy at ~22% YoY to Rs 4576.98 crore.
New Business Premium witnessed slight moderation at 19% YoY to Rs 5051.23 crore, due to sluggish group business.
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