India's HDFC Life Insurance falls on distribution reforms uncertainity
BUZZ-India's HDFC Life Insurance falls on distribution reforms uncertainity ** Shares of India's HDFC Life Insurance HDFL.NS fall 2.3% to 537.85 rupees
** Jefferies says slowdown in agency annual premium equivalent growth to 6% from 21% Q/Q and fall in persistency of market-linked policies are key concerns
** Cites negative impact of 7.4 billion rupees ($78.1 million) on embedded value growth from weak markets and higher shorter-tenor yields as key risks for insurer's future profitability** Kotak and HSBC say proposed distribution reforms could sharply reduce commissions in credit-protect business, risking the high-margin segments in near-term
** HDFL Q2 profit rose 13.6% to 5.08 billion rupees from 4.47 billion rupees a year ago and net premium income rose to 217.27 billion rupees
** Stock down 28.74% YTD
($1 = 94.7200 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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