By Yi Wei Wong
HDFC Life Insurance Co. said Friday that its third-quarter net profit rose 4.8%, thanks to sharply higher premium and investment income.
Net profit for the quarter ended December rose to 2.63 billion rupees ($36.0 million) from INR2.51 billion a year earlier, the Indian insurer said.
Net premium income rose 21% to INR94.89 billion and net income from investments more than tripled to INR115.94 billion, it said.
“We are witnessing a lift in customer confidence, which is also reflected in the new business premium trends for both the individual as well as the group credit protect business,” said Chief Executive Vibha Padalkar.
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(END) Dow Jones Newswires
January 22, 2021 06:35 ET (11:35 GMT)
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Source: Google | Insurance News