Net premium income increased by 22.85% to Rs 12,869.55 crore in Q4 FY21 over Q4 FY20.
The company s net income from investments stood at Rs 6,015.42 crore in Q4 March 2021 compared with loss of Rs 10,229.92 crore in Q4 March 2020.
Profit before tax in Q4 FY21 stood at Rs 310.21 crore, up by 9.07% from Rs 284.41 crore in Q4 FY20.
HDFC Life s consolidated net profit rose 4.89% to Rs 1,360.87 crore on 18.31% increase in net premium income to Rs 38,148.81 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
The company recorded robust growth of 17% in terms of Individual Weighted Received Premium (WRP) during FY21, on a base of 19% growth in FY20. In comparison, the private industry grew by 8% on a base of 5% growth in FY20.
HDFC Life Insurance Company has allotted 225,002 equity shares of face value of Rs 10 each pursuant to exercise of Stock Options by certain Option holders under various Employee Stock Options Schemes.
Post the above allotment, the paid]up equity share capital of the Company stands at Rs 20,206,810,830 comprising of 2,020,681,083 equity shares of face value of Rs 10 each.
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HDFC Life Insurance Company announced the resignation of Stephanie Bruce (DIN: 08594969), Non-executive Nominee Director of the Company with effect from 13 January 2021.
With this, Rushad Abadan (DIN: 08035538), Alternate Director to Stephanie Bruce also ceased to be Alternate Director of the Company with immediate effect.
Consequent to the recent stake sale by Standard Life, their shareholding in the Company has reduced below 10%, and thus they cease to have the right to nominate a Director on the Board of the Company. In view of the above, and in accordance with the applicable provisions of the AoA of the Company, Standard Life has withdrawn the nomination of Stephanie Bruce from the Board of HDFC Life.