HDFC Life Q4 Review - Annual Premium Equivalent Growth Strong; Persistency Trends Improving: Motilal Oswal
An applicant fills out a form.  (Photographer: David Paul Morris/Bloomberg)

HDFC Life Q4 Review - Annual Premium Equivalent Growth Strong; 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 Life Insurance Company Ltd. reported improvement in new business annual premium equivalent (led by the non-participating and participating businesses), while the trend in retail protection remained muted.

Value of new business margins improved to 27%, aided by a rise in non-Par as well as cost control.

Thus, absolute VNB grew 52% YoY in Q4 FY21.

On the persistency front, better trends were witnessed in the Par/protection business. As a result, 13th/25th month individual premium persistency improved ~200 basis point/500bp YoY.

Overall, we expect the company to reflect 22% VNB growth over FY21–23E.

Click on the attachment to read the full report:

Motilal Oswal HDFC Life Q4FY21 Result Review.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.