In a primary of its kind, HDFC Standard Life Insurance has put a worth of Rs 3,380 crore on itself as on March 31, 2010. The company has followed marketplace reliable implanted value (MCEV) technique to calculate the valuation.
The embedded value (EV) of a life insurance company is the current value of upcoming profits plus adjusted net asset value. It is constructed from the field of actuarial science which allows insurance companies to be valued.
The valuation comprises Rs 670 crore on account of shareholders’ accustomed net worth and Rs 2,710 crore for the business in strength. Meanwhile, the company is expected to impart Rs 350 crore throughout the current financial, as against Rs 172 crore in last financial. “The idea behind doubling-up our capital infusion is basically two-fold,” said the company’s CFO Vibha Padalkar said.
The bigger capital mixture for the business growth throughout the current financial is on account of the new scheme which is being unveiled following the the sweeping regulatory changes for unit linked insurance plans (Ulips) by Insurance Regulatory & Development Authority (Irda), Padalkar added.
The company is also looking for primary public offering (IPO) in 2012. Assets under management of the company double to Rs 20,770 crore in 2009-10 as against Rs 10,600 crore in 2008-09.
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