HDFC Life said it is looking to grow at between 15-18% in the current fiscal year. HDFC life is the life insurance venture of HDFC bank.
"We aim to grow 2-2.5 times of the GDP this year," Sanjay Tripathy, the company's senior executive vice-president of marketing, product, digital and e-commerce, said.
The ratings and research company Credit Rating Information Services of India Limited has projected the Indian GDP to grow by 7.4% during 2015-16.
The company, for the fiscal year ended March 31,2015, raised Rs 3,310 crore as first year premium collection while the total amount for the same fiscal period stood at Rs.14,830 crore.
The total premium collection from April 2014 to March 2015 grew by 23% at Rs.6,580 crore compared to 2013-14.
HDFC Life is a joint venture between HDFC Ltd andUK-based Standard Life Plc where the Indian company has 70.64% stake with the UK-based firm owing 26%.
The rest of the stakes are owned by the Azim Premji Trust and others.
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