Saturday, 19 August 2017

HDFC STANDARD LIFE INSURANCE COMPANY LTD & THE NEW INDIA ASSURANCE COMPANY LTD – FILES DRHP WITH SEBI





IRDAI (i.e. Insurance Regulatory and Development Authority of India) in Aug, 2016 has filled draft guidelines for compulsory listing of all insurance companies in India. As per the guidelines insurance companies having completed 8 years of operation under general and reinsurance segment and 10 years of operation under Life insurance segment shall go for mandatory listing on the stock exchanges.




1. HDFC STANDARD LIFE INSURANCE COMPANY LTD –

HDFC STANDARD LIFE INSURANCE COMPANY LTD is a joint venture between HDFC LTD& Standard Life (Mauritius Holdings). HDFC Standard Life an unlisted and highly demanded stock among the unlisted brokers and investors. 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.

HDFC Life, in their meeting held on 17th July,  2017 to decide upon the IPO & the board meeting of HDFC LTD held on 26th July, 2017 over the same matter has got the board approval as well as shareholders’ approval for considering IPO prior to the Merger proposal of MAX Financial Services Ltd, Max Life Insurance Company Ltd, Max India Ltd and HDFC Life which shall take place post IPO as reworking is still going on.

On 18th august, 2017 HDFC Life has filled papers with SEBI for IPO raise around Rs.7500 Crs. Through IPO. IPO will be a pure offer for sale of 1,91,246,050 shares by the promoters i.e HDFC Ltd –9.55% & Standard Life – 5.42%.


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%



 2. THE NEW INDIA ASSURANCE COMPANY LTD –

The New India Assurance is a wholly owned company of government of India, incorporated in year 1919. The New India Assurance is registered as “general insurance” company with IRDAI. The New India Assurance has its operations spread across 29 states, 7 union territories & across 28 countries globally.

In year 2017, The New India Assurance has earned Premium of Rs. 17814.7 Crs. Comapred to Rs. 14959.826 Crs in 2016. Net Profit After Tax is reported at Rs. 1007.9 Crs in 2017 comapred to Rs. 828.69 Crs in 2016.share capital of the company stands at Rs. 200 Crs. Total Net Worth (including fair value change) has increased from Rs. 30446 Crs in 2016 to Rs. 35863 Crs in 2017.Solvency Ratio for 2017 stands at 2.22x.

IPO of The New India Assurance is a combination of fresh issue of shares around 2.4 Crs and offer for sale by promoter (i.e President of India) around 9.6 Crs.







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