HDFC Life Insurance Company Ltd’s June quarter showed the flipside of the pandemic on an insurance company’s performance. Ergo, HDFC Life set aside ₹700 crore as an excess mortality reserve towards these anticipated claims. To be sure, the life insurer may not be an outlier in showing contraction as the overall industry too saw a similar trend. HDFC Life’s shares have lost about 3% since April while its peers SBI Life Insurance Company Ltd and ICICI Prudential Life Insurance Ltd have gained 18% and 40% respectively. At about three times estimated embedded value for FY22, HDFC Life still comes as dearer than its peers.

Source: Mint July 20, 2021 04:52 UTC