Housing Development Finance Corporation (HDFC) has postponed the plan to list its insurance business – HDFC Standard Life — from the previous schedule of end of 2009 to March 2011 due to the current market conditions, company officials stated.
HDFC ventured into the life insurance sector on a joint venture basis with UK-based Standard Life.
The company, which has so far covered over 812,811 lives, hopes to start making profits in another two years time.
The profit for an insurance company, particularly life insurance is dependent on growth and HDFC Standard Life Insurance’s profit-making would also be a function of growth, officials announced.