BENGALURU, Jan 20 (Reuters) – HDFC Life Insurance Co (HDFL.NS) reported a 15% rise in third-quarter revenue on Friday, pushed by increased revenue from premiums and its investments and mentioned it expects to promote extra insurance policies within the subsequent few quarters.

“Insurance as a sector continues to be a beneficiary of a relatively robust economy, stable savings trends and favourable regulatory regime,” Vibha Padalkar, managing director and chief government, mentioned in a press release.

Though progress in retail safety was tepid on a year-over-year foundation, it rose 13% sequentially, mentioned Padalkar.

“… we expect individual protection to continue picking up in the coming quarters.”

The Mumbai-based insurer mentioned revenue rose to three.15 billion rupees ($38.8 million) within the third quarter ended Dec. 31, from 2.74 billion rupees a yr in the past.

Its internet premium revenue rose 18.6% to 143.79 billion rupees, whereas revenue from investments greater than doubled to 49.28 billion rupees.

HDFC Life’s whole annualised premium equal for the nine-month interval grew 21.9% to 81.74 billion rupees.

In that very same interval, HDFC Life’s new enterprise margins – a measure of the anticipated profitability of recent enterprise – grew by 26.5%.

This contains the affect of its merger with Exide Life Insurance, which closed within the quarter.
($1 = 81.1240 Indian rupees)

Reporting by Anuran Sadhu in Bengaluru; Editing by Savio D’Souza

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