HDFC Life eyes 15% premium income growth this fiscal
Kolkata: Private insurer HDFC Life is targeting a premium income growth of 15 per cent in the current financial year.
"Private life insurance companies have grown by 15 per
cent during the first six months. We hope to finish the year
at that level," Principal Officer and Executive Director of
HDFC Life Paresh S Parasnis said today.
Last year, the company had clocked a first premium income
of Rs 2,252 crore.
The company which had already underwritten 27 lakh
policies, has Rs 16,000 crore in assets under management.
With 9.37 per cent market share among private players,
the company ranked fifth.
He said depending on the business growth, the company
plans to infuse Rs 350 crore during the current fiscal, while
Rs 50 crore has been injected this fiscal.
Besides, the insurer also launched two products-- one for
children and the other a pension plan.
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