HDFC Life is reported to record a yearly profit of 2.8698 billion from 2.3849 billion last year. Profit was declared at the end of quarter 2 (Q2) of the fiscal year 2018–2019 on 30th September 2018. Premium income is increased to 68.405 billion from 56.366 billion. Q2 YOY net profit has increased by 20.3 %. This profit was declared this Tuesday on 23rd October by HDFC Standard Life (HDFC Life).
20th July, this year proposal of the name change of HDFC Standard Life to HDFC Life was approved by the board of directors. It’ still awaiting approval from the regulators & shareholders. Vibha Padalkar who was appointed as Managing Director and Chief Executive Office on 12th September 2018 continues to work as Chief Financial Officer. Vibha said, “HDFC Life will continue to grow faster than Industry under its current leadership”. She added, “We will further leverage better pools of profitability and will try to deliver the best value proposition to our stakeholders, customers, and partners”.