Saturday, 1 July 2017

HDFC STANDARD LIFE INSURANCE COMPANY LTD – FINANCIAL UPDATE 2017 & IPO MEETING TO BE HELD ON 17TH JULY 2017


HDFC STANDARD LIFE INSURANCE COMPANY LTD (i.e HDFC Standard life / HDFC Life), was established in Year 2000. HDFC Standard Life is a joint venture between HDFC LTD & Standard Life (Mauritius Holdings). HDFC Standard Life is an unlisted insurance company and planning for IPO soon.

SHAREHOLDING PATTERN:


SHAREHOLDERS

% HOLDINGS

HDFC LTD

61.53%

STANDARD LIFE (MAURITIUS)

34.94%

AZIM PREMJI

0.95%

OTHERS (PUBLIC)

2.58%

 
HDFC Standard Life has 29 individual and 10 group products in its portfolio, along with 8 optional rider benefits catering to a diverse range of customer needs. HDFC Life continues to benefit from having a wide reach with 398 HDFC Life offices in India and 12,000+ distributor touch-points. HDFC Standard Life has an AUM of Rs. 91742 crs for the Year Ended March 2017.

Insurance Products- Term Insurance , Saving & Investment plan, Health Plan, Retirement Plan, Children’s Plan, Women Plan , Combo Plans, Protection Plan , Rural & Social Plan, ULIP plan , Discontinued Insurance Plan , ETC.


Financial Highlights – Year Ended March 2017 & 2016   (Fig . In Crs.)


PARTICULARS
2017
2016
PREMIUM
19445

16313

AUM( Assets Under Management)
91742
74247

TOTAL INCOME
1017
900

PAT
887
817

EPS
4.44
4.09

EQUITY
1998.48
1995.29

FACE VALUE
10
10

BOOK VALUE
19.21
15.83

SOLVENCY RATIO (%)
192%
198%



The Board of Directors of HDFC Life approved taking steps to initiate the process for an Initial Public Offering (IPO) of the Company by way of an offer for sale by Housing Development Finance Corporation Limited (HDFC Ltd), the Company’s Indian Promoter Company, upto 10% of the Company’s paid-up and issued equity share capital.
HDFC Life, is going to have a meeting on 17th July 2017 to decide upon the IPO & the board meeting of HDFC LTD shall be held on 26th July 2017 over the same matter. 





HDFC has completed 9% stake sale in HDFC Standard Life Insurance Company to its British joint venture partner Standard Life for a little over Rs.1,700 crore. British firm Standard Life would be increasing its stake in the JV to 35% from 26% as the Indian government has allowed up to 49% FDI in the domestic insurance sector.





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