HDFC Life Insurance Q2 profit rises on strong premium growth

HDFC Life Insurance Company, reported a 15.5% increase in second-quarter profit despite higher taxation on high-value life insurance. The insurer’s profit after tax rose to 3.77 billion rupees ($45.30 million) for the quarter ended Sept. 30. Its total annualized premium equivalent rose 9% in the first half of the fiscal year. The company’s value of new business grew 10% in the fiscal first half.