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HDFC Standard premium income up

NEW DELHI NOV. 26. HDFC Standard Life Insurance has posted a 65 per cent growth in premium income at Rs. 66 crores during the first half of this fiscal, its CEO, Deepak Satwalekar, said on Tuesday. The company has so far sold 2.8 lakh policies with a sum assured of Rs. 9,000 crores, of which Rs. 1,000 crores came from the Delhi zone.

"Our new product launches in the coming months should propel us further on the growth path," Mr. Satwalekar said, adding the company's new business premium income surged by 65 per cent to Rs. 66 crores during April-September 2003. He attributed the growth to sale of its new Children's Plan and Group Insurance business.

The surge in business was attained after the life insurer's bancassurance ties with HDFC Bank, Union Bank of India and Indian Bank. — PTI

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