HDFC Standard Life eyes 15pc premium income growth this fiscal

KOLKATA: Private insurer HDFC Standard Life Insurance Company (rpt) HDFC Standard Life Insurance Company is targeting a premium income growth of 15 per cent in the current financial year.

"Private life insurance companies have grown by 15 per cent during the first six months. We hope to finish the year at that level," Principal Officer and Executive Director of HDFC Life Paresh S Parasnis said today.

Last year, the company had clocked a first premium income of Rs 2,252 crore.

The company which had already underwritten 27 lakh policies, has Rs 16,000 crore in assets under management.

With 9.37 per cent market share among private players, the company ranked fifth.

He said depending on the business growth, the company plans to infuse Rs 350 crore during the current fiscal, while Rs 50 crore has been injected this fiscal.

Besides, the insurer also launched two products - one for children and the other a pension plan.