US Stock Reports, Quotes and News
The value of new business (VNB) declined 26.4% to ₹776 crore versus ₹1,055 crore in the corresponding quarter previous year. The company reported a 17% growth in net premium income to ₹14,788 crore against ₹12,629 crore in Q4FY23.
The retail APE for LIC stood at a negative CAGR of 3.8% while the sector grew at a rate of 9% over two years, with private sector companies growing at 17%.
HDFC Life Share Price: HDFC Life stock fell 4% to Rs 581 after March results even after reporting 14% net profit growth to Rs 412 crore. Achieved 11% APE growth for FY24, individual APE growth at 1%.
During the same quarter, in the previous year, the company had reported a profit of ₹358 crore. The insurer generated 18% growth in back-book surplus during the year.
HDFC Life Q4 Results: The net premium income for the same period increased 5% to Rs 20,534 crore against Rs 19,469 crore in the last year period. The company\’s board has also recommended a final dividend of Rs 2 per share for the financial year 2023-24
They also purchased insurance stocks like SBI Life, HDFC Life, and ICICI Prudential Life Insurance after favourable guidelines on the surrender value of policies were announced by the insurance regulator IRDAI. Also, the recent removal of the age limit on availing of health insurance is seen as boosting the prospects of life insurance companies.