HDFC Life Q4 Review - Business Growth Slightly Better, Margins Steady: Prabhudas Lilladher
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HDFC Life Q4 Review - Business Growth Slightly Better, Margins Steady: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

HDFC Life Insurance Company Ltd.’s gross written premium grew by 18% YoY in FY21 and 22% YoY in Q4 FY21 leading to a better annual premium equivalent growth of 13% in FY21 versus 30% decline post lockdown and was led by continued growth in non-par savings segment.

Margins were steady at 26% in FY21 and 27% in Q4 FY21 and largely in-line with expectation.

Margin expansion has been not large as protection business has been slower in H2 FY21 and higher mortality charges (Covid-19 reserve) and fixed cost in the credit product business.

Click on the attachment to read the full report:

Prabhudas Lilladher HDFC Life Q4FY21 Result Review.pdf

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