Mumbai: New product launch meant private life insurer HDFC Life had spectacular profitability and growth metrics for the June quarter. The non participatory product that HDFC Life had launched was the force behind this margin spike. Business growth continued to be strong for the insurer with total annualised premium equivalent (APE) growing at a brisk pace of 67%. While SBI Life’s strength lies in its access to the largest branch network of its parent State Bank of India, HDFC Life too has ramped up its distribution. In fact, online sales that typically result in better persistency ratios have been higher for HDFC Life.

Source: Mint July 24, 2019 04:41 UTC