HDFC Life Tuesday reported  18.3 per cent growth in profit at Rs 245.63 crore for the third quarter ended December 31.

The private sector insurer’s profit stood at Rs 207.32 crore in the same quarter of 2017, HDFC Life said in a statement.

Total income of the company declined to Rs 9,303.09 crore from Rs 9,684.46 crore in October-December 2017.

The board appointed Niraj Ashwin Shah as Chief Financial Officer of the company with effect from March 1, 2019.

During April-December period, the company maintained leadership position in terms of total new business received premium with a market share of 21 per cent in the private sector compared to 18.4 per cent in the same period of 2017-18.

Total number of lives insured grew 71 per cent to 3.48 crore during the 9-month period of 2018-19. Overall new business sum assured also saw an increase of 27 per cent to Rs 4,06,943 crore during the same period.