HDFC Life Insurance Company Ltd
HDFC Life Insurance Company Ltd (HDFCLIFE)

HDFC Life Insurance Company Ltd (HDFCLIFE)

₹5500.88%

Key Stats

₹547.55
Day's Price Range
₹558.55
₹497.05
52-Week Price Range
₹775.65
1 Month Return1.49 %
3 Month Return-6.38 %
1 Year Return-16.78 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 1
84.96
EPS
Rank 1
₹6.53
BVPS
Rank 3
₹42.74
Dividend Yield
Rank 2
0.28%
ROE
Rank 2
17.64%
Price To Book Ratio
Rank 2
12.98
Debt To Asset
Rank 2
0.95

Company Information

HDFC Standard Life Insurance Company Limited was incorporated as a public limited company at Mumbai on 14th August 2000. The Company obtained the certificate of commencement of business on October 12 2000. Further the Company obtained its certificate of registration from Insurance Regulatory and Development Authority of India IRDAI to undertake the life insurance business on 23rd October 2000.HDFC Standard Life is one of the most profitable life insurers based on Value of New Business VNB margin. Besides consistently being among the top three private life insurers in terms of profitability based on VNB margin the company has also consistently been among the top three private life insurers in terms of market share based on total new business premium. HDFC Standard Life was the first private sector life insurer to obtain registration from the IRDAI and was established as a joint venture between HDFC one of Indias leading housing finance institutions and Standard Life Aberdeen plc one of the worlds largest investment companies initially through its wholly owned subsidiary The Standard Life Assurance Company and now through its wholly owned subsidiary Standard Life Mauritius. Currently the Company has 413 branches across India. The Company has a broad diversified product portfolio covering five principal segments across the individual and group categories namely participating nonparticipating protection term nonparticipating protection health other nonparticipating and unitlinked insurance products. The Product portfolio comprises 35 individual and 11 group products as well as eight optional rider benefits. In 2003 HDFC Standard Life crossed 1 lakh policies and 10000 individual agents. During the year the company entered into distribution tieups with HDFC Bank and other banks. In 2004 the company launched unit linked products. During the year the company entered into distribution tieup with Saraswat Cooperative Bank Limited. In 2007 HDFC Standard Life crossed the 5 lakh policy milestone. In 2010 HDFC Standard Lifes total assets under management AUM crossed Rs 20000 crore.In Fiscal 2012 the Company established a whollyowned subsidiary HDFC Pension to operate the pension fund business under the National Pension System. HDFC Pension is the second largest private pension fund management company in India in terms of assets under management and subscribers in Fiscal 2017. HDFC Standard Life turned profitable in fiscal 2012 and registered a profit of Rs 271 crore. In December 2013 the company declared a maiden dividend. In 2014 the companys AUM crossed Rs 50000 crore mark.In 2016 HDFC Standard Lifes total premium crossed the Rs 16000 crore mark. During the year Standard Life Mauritius increased its stake in HDFC Standard Life Insurance Company from to 35 from 26. In Fiscal 2016 The Company established a first international subsidiary in the UAE HDFC International to operate the reinsurance business. HDFC International has signed reinsurance treaties for two distinct lines of individual life business and entered into arrangements to offer reinsurance for group and credit life schemes. The Company expects the pension and reinsurance business to help them diversify its sources of revenue and profitability in future. On 31 July 2017 HDFC Standard Life Insurance Company and Max Group entities called off proposed merger of their life insurance businesses as the parties were unable to obtain the requisite regulatory approvals to consummate the merger. Earlier on 8 August 2016 HDFC Standard Life Insurance Company and Max Group Entities had announced the merger of their life insurance businesses through a composite scheme of arrangement and had entered into certain definitive agreements to implement the same subject to satisfaction of various conditions including the receipt of necessary approvals.During the FY2018 the Company completed its Initial Public Offer by way of an offer for sale up to 299827818 equity shares of face value of Rs 10 each of the Company by promoters of the Company i.e. Housing Development Finance Corporation Limited and Standard Life Mauritius Holding 2006 Limited. The Shares of the Company were listed on National Stock Exchange of India Limited NSE and BSE Limited BSE on 17 November 2017.The total new business premium during FY 2018 increased by 32 to Rs 11350 crore as against Rs 8621 crore for the last year. Of this individual Annual Premium Equivalent APE grew by 31 to 4887 crore and group new business premium showcased strong growth of 22.The total premium during FY 2018 was Rs 23564 crore compared to Rs 19445 crore during FY 2017 registering a robust growth of 21 driven by strong new business growth and 13 growth in our total renewal premium from Rs 10824 crore to Rs 12215 crore.The Assets under Management AUM of the Company crossed the milestone of Rs 1 trillion mark during FY 2018 which reflected a growth of 16 to Rs 106603 crore as on 31 March 2018 as against Rs 91742 crore as on 31 March 2017 backed by healthy business performance and persistency. HDFC Life maintained a steady debtequity proportion of 61:39 as on 31 March 2018.During FY 2018 HDFC Life launched an innovative deferred pension single premium annuity plan known as HDFC Life Pension Guaranteed Plan. At the end of FY 2018 HDFC Life had 34 Individual and 11 Group products with 8 Riders available for its customers.The Company received the Economic Times Great Place to Work award during FY 2018.During the FY2019 the total new business premium increased to Rs 14971 crore showcasing a growth of 32 over previous yearwhile group new business premium showcased strong growth of 36 to end at Rs 7327 crore. The total premium during FY 2019 was Rs 29186 crore compared to Rs 23564 crore during FY 2018 registering a sustainable growth of 24 primarily due to healthy new business growth of 32 and growth of 16 in renewal premium.The Assets Under Management AUM of the Company stood at Rs 125552 crore as on 31 March 2019 as against Rs 106603 crore as on 31 March 2018 registering a stable growth of 18. This was driven primarily by healthy business performance and strong persistency. HDFC Life maintained a debtequity proportion of 62:38 as on 31 March 2019.The Company was recognised as one of the The Top 20 Best Places to work for in BFSI Sector2019 by Great Place To Work during FY 2019. At the Dun Bradstreet BFSI Awards Summit 2019 the Company was awarded with Indias Leading Life Insurance Company in the Private Category.The corporate name of the Company was changed from HDFC Standard Life Insurance Company Limited to HDFC Life Insurance Company Limited on 17 January 2019. The name of the Company was changed to align the corporate name with its brand name. The last quarter of the FY2020 brought forth a nightmare for the global economy as a novel Coronavirus Covid19 first affected a province in China and thereafter spread rapidly across the world. The lockdowns in India as well as across most large economies resulted in economic activity coming to a grinding halt.During the FY2020 the total new business premium increased by 15 to Rs 17238 crore.The company maintained its leadership position within the group segment recording growth of 20 to end at Rs 8775 crore. The total premium grew by 12 to Rs 32707 crore compared to Rs 29186 crore in FY 2019 underpinned by new business growth of 15 and 9 growth in renewal premium.The assets under management AUM were Rs 127226 crore with a debtequity proportion of 71:29 as on 31 March 2020 thereby clocking a 1 growth over last year.The company has received the Gold award for Branded Content and Bronze Award for Media Partnership at the Campaign Media 360 2020 Awards.The Company won the Best Use of Mobile Audio and also won the Bronze Award for Best BrandInfluencer collaboration at the IAMAI India Digital Awards 2020. During the FY2021the total new business premium increased by 17 to Rs 20107 crore. The company maintained its leadership position within the group segment recording growth of 14 to end at Rs 10031 crore.The total premium grew by 18 to Rs 38583 crore in FY 202021 compared to Rs 32707 crore in FY 201920 on account of new business growth of 17 and 19 growth in renewal premium.The assets under management AUM stood at Rs 173839 crore with a debtequity proportion of 64:36 as on 31 March 2021 thereby clocking a 37 growth over the previous year.During the year 202021 the Company has issued and allotted 6000 unsecured redeemable nonconvertible debentures NCDs each having a face value of Rs 1000000/ for an aggregate nominal value of Rs 600 crore as subordinated debt.These NCDs are listed on the wholesale debt market segment of the National Stock Exchange of India Limited.The Board of Directors of the Company approved the Share Purchase and Share Swap Agreement dated 03 September 2021 entered into by and amongst the Company Exide Industries Limited and Exide Life Insurance Company Limited in connection with the acquisition of 100 of the share capital of and subsequent merger of Exide Life Insurance Company Limited into the Company for a total consideration of Rs. 668700 lakhs. The proposed preferential issuance of equity shares to Exide Industries has been approved by shareholders of the Company at the Extra Ordinary General Meeting held on 29 September 2021.
OrganisationHDFC Life Insurance Company Ltd
HeadquartersMumbai
IndustryInsurance