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HDFC Life Insurance posts Rs.1,277 crore net profit

Mumbai, April 26 (IANS) Private life insurer HDFC Life Insurance Company Ltd on Friday said it closed last fiscal with a 15 per cent growth in net profit.

In a statement issued here, the company said it had logged a net profit of Rs 1,277 crore up from Rs 1,109 crore posted during 2017-18.

The life insurer earned a total premium of Rs 29,186 crore last fiscal up from Rs 23,564 crore earned in 2017-18.

“We continue to record above industry-level growth and maintain our leadership position on profitability. Our continued focus on diversifying our distribution mix and maintaining a balanced product mix is underpinned by the growth of our proprietary channels and our dominant presence across all product segments,” Vibha Padalkar, Managing Director & CEO was quoted as saying in the statement.

–IANS

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