{"id":10451,"date":"2018-04-25T16:23:49","date_gmt":"2018-04-25T16:23:49","guid":{"rendered":"http:\/\/faceinews.com\/?p=10451"},"modified":"2018-04-25T16:23:49","modified_gmt":"2018-04-25T16:23:49","slug":"idbi-federal-life-insurances-fy18-net-profit-up-by-94-at-inr-101-cr","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=10451","title":{"rendered":"IDBI Federal Life Insurance\u2019s FY18 net profit up by 94% at INR 101 cr"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><strong><em>Records the 6<sup>th<\/sup>\u00a0consecutive year of profits<\/em><\/strong><\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">\u00a0<a href=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" rel=\"attachment wp-att-7654\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7654\" src=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" alt=\"Faceinews Logo - Copy\" width=\"173\" height=\"43\" \/><\/a><\/p>\n<p style=\"font-weight: 400;\"><strong>Chennai, 25<sup>th<\/sup>\u00a0April, 2018<\/strong>:\u00a0<strong>IDBI Federal Life Insurance<\/strong>, amongst the leading life insurance companies in India, has reported a<strong>\u00a0net profit of INR 101 cr during FY18, a growth of 94% over FY17.<\/strong>\u00a0This is the\u00a0<strong>6<sup>th<\/sup>\u00a0consecutive year of profits<\/strong>\u00a0since it first declared profits in FY13.<\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">IDBI Federal\u2019s\u00a0<strong>total premium<\/strong>\u00a0rose by 14% to INR 1,783 cr for FY18, as compared to INR 1,565 cr in FY17. The\u00a0<strong>individual new business premium<\/strong>\u00a0saw a rise of 15% to INR 732 cr in FY18 from INR 634 cr in FY17.<\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">The Persistency Ratio on Overall Premium for 13<sup>th<\/sup>\u00a0month (as on Feb\u201918) saw an improvement to 81% from 79% in the prior period.<\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">Speaking on the organisation\u2019s performance during the year,\u00a0<strong>Mr. Vighnesh Shahane, CEO, IDBI Federal Life Insurance<\/strong>\u00a0said:\u00a0<strong><em>\u201cOur customer-focused approach and enhanced tech capabilities across operational processes resulted in boosting of the persistency ratio. This coupled with our continuous effort of bringing in efficiencies in the distribution channels \u2013 digital and relationship-based \u2013 has helped us achieve consistent year-on-year delivery of superior results.\u201d<\/em><\/strong><\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\"><strong>Mr. Shahane<\/strong>\u00a0further added,\u00a0<strong><em>\u201cOur intrinsic purpose at IDBI Federal is to empower our customers to create the life and lifestyle of their choice. Our efforts in the coming year will be in line with our purpose, as we implement digital endeavours designed to improve and enhance the entire customer experience from on boarding till policy issuance, as well as further increase process efficiencies. We will also focus on broad-basing our product suite, and scale up our analytics in more aspects of the business.\u201d<\/em><\/strong><\/p>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">The Board of Directors of IDBI Federal Life Insurance have approved and adopted the financial results for FY18.<\/p>\n<p style=\"font-weight: 400;\">\n<table style=\"font-weight: 400;\">\n<tbody>\n<tr>\n<td width=\"247\"><strong>Key Financial Summary<\/strong><\/td>\n<td width=\"83\"><strong>FY18<\/strong><\/p>\n<p><strong>(Rs. In Cr)<\/strong><\/td>\n<td width=\"75\"><strong>FY17<\/strong><\/p>\n<p><strong>(Rs. In Cr)<\/strong><\/td>\n<td width=\"85\"><strong>YoY %<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Profit After Tax<\/strong><\/td>\n<td width=\"83\">101<\/td>\n<td width=\"75\">52<\/td>\n<td width=\"85\">94%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>New Business Premium<\/strong><\/td>\n<td width=\"83\">833<\/td>\n<td width=\"75\">793<\/td>\n<td width=\"85\">5%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Renewal Premium<\/strong><\/td>\n<td width=\"83\">950<\/td>\n<td width=\"75\">772<\/td>\n<td width=\"85\">23%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Total Premium<\/strong><\/td>\n<td width=\"83\">1,783<\/td>\n<td width=\"75\">1,565<\/td>\n<td width=\"85\">14%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Individual APE<\/strong><\/td>\n<td width=\"83\">447<\/td>\n<td width=\"75\">416<\/td>\n<td width=\"85\">8%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Total APE<\/strong><\/td>\n<td width=\"83\">458<\/td>\n<td width=\"75\">434<\/td>\n<td width=\"85\">6%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Group Premium (NB + Renewal)<\/strong><\/td>\n<td width=\"83\">114<\/td>\n<td width=\"75\">175<\/td>\n<td width=\"85\">-35%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Premium Less Benefit Payouts<\/strong><\/td>\n<td width=\"83\">1,274<\/td>\n<td width=\"75\">948<\/td>\n<td width=\"85\">34%<\/td>\n<\/tr>\n<tr>\n<td width=\"247\"><strong>Assets Under Management (AUM)<\/strong><\/td>\n<td width=\"83\">7,503<\/td>\n<td width=\"75\">6,090<\/td>\n<td width=\"85\">23%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<table style=\"font-weight: 400;\">\n<tbody>\n<tr>\n<td width=\"274\"><strong>Key Financial Ratios<\/strong><\/td>\n<td width=\"149\"><strong>FY18<\/strong><\/td>\n<td width=\"161\"><strong>FY17<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Operating Expenses \/ Total Premium<\/strong><\/td>\n<td width=\"149\">15%<\/td>\n<td width=\"161\">16%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Solvency Ratio<\/strong><\/td>\n<td width=\"149\">371%<\/td>\n<td width=\"161\">352%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>13M \/ 61M Persistency<\/strong><\/p>\n<p>(as of Feb\u201918 on Overall Premium)<\/td>\n<td width=\"149\">13<sup>th<\/sup>\u00a0Month \u2013 81%<\/p>\n<p>61<sup>st<\/sup>\u00a0Month \u2013 59%<\/td>\n<td width=\"161\">13<sup>th<\/sup>\u00a0Month \u2013 79%<\/p>\n<p>61<sup>st<\/sup>\u00a0Month \u2013 69%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Conservation Ratio<\/strong><\/td>\n<td width=\"149\">81%<\/td>\n<td width=\"161\">81%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Business Mix (%) on Ind APE<\/strong><\/p>\n<p>(UL \/ Non PAR \/ PAR)<\/td>\n<td width=\"149\">ULIP: 43%<\/p>\n<p>Non PAR: 23%<\/p>\n<p>PAR: 33%<\/td>\n<td width=\"161\">ULIP: 22%<\/p>\n<p>Non PAR: 32%<\/p>\n<p>PAR: 45%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Protection business share (basis APE)<\/strong><\/td>\n<td width=\"149\">On Ind APE: 2.02%<\/td>\n<td width=\"161\">On Ind APE: 1.89%<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Individual Distribution on NBP<\/strong><\/p>\n<p>(CA\/Agency\/Broker\/Direct)<\/td>\n<td width=\"149\">\n<table width=\"128\">\n<tbody>\n<tr>\n<td width=\"64\">CA<\/td>\n<td width=\"64\">82%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Agency<\/td>\n<td width=\"64\">7%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Broker<\/td>\n<td width=\"64\">10%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Direct<\/td>\n<td width=\"64\">1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"161\">\n<table width=\"128\">\n<tbody>\n<tr>\n<td width=\"64\">CA<\/td>\n<td width=\"64\">85%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Agency<\/td>\n<td width=\"64\">7%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Broker<\/td>\n<td width=\"64\">7%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Direct<\/td>\n<td width=\"64\">1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"274\"><strong>Total Distribution on NBP<\/strong><\/p>\n<p>(CA\/Agency\/Broker\/Direct\/Group)<\/td>\n<td width=\"149\">\n<table width=\"128\">\n<tbody>\n<tr>\n<td width=\"64\">CA<\/td>\n<td width=\"64\">82%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Agency<\/td>\n<td width=\"64\">6%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Broker<\/td>\n<td width=\"64\">9%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Direct<\/td>\n<td width=\"64\">1%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Group<\/td>\n<td width=\"64\">2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"161\">\n<table width=\"128\">\n<tbody>\n<tr>\n<td width=\"64\">CA<\/td>\n<td width=\"64\">75%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Agency<\/td>\n<td width=\"64\">6%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Broker<\/td>\n<td width=\"64\">7%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Direct<\/td>\n<td width=\"64\">1%<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">Group<\/td>\n<td width=\"64\">11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n<p style=\"font-weight: 400;\">\n","protected":false},"excerpt":{"rendered":"<p>Records the 6th\u00a0consecutive year of profits \u00a0 Chennai, 25th\u00a0April, 2018:\u00a0IDBI Federal Life Insurance, amongst the leading life insurance companies in India, has reported a\u00a0net profit of INR 101 cr during FY18, a growth of 94% over FY17.\u00a0This is the\u00a06th\u00a0consecutive year of profits\u00a0since it first declared profits in FY13. IDBI Federal\u2019s\u00a0total premium\u00a0rose by 14% to INR [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-10451","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/10451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10451"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/10451\/revisions"}],"predecessor-version":[{"id":10452,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/10451\/revisions\/10452"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}