Motilal Oswal: HDFC Standard Life’s Non-Participating, Protection To Drive Business Growth
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Motilal Oswal Report
HDFC Life’s Annual Report reaffirms our view that it would continue to focus on maintaining a balanced product mix across the Savings and Protection businesses, with an emphasis on product innovation and superior customer service.
In the near term, there continues to be a higher focus on the protection and non-participating segments as they are relatively simpler products to transact through the digital channel. The Annuity business is also gaining momentum; thus, its share has improved to approximately 16% of new business premium (NBP). This would enable steady growth in value of new business (VNB) margins.
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