HDFC PUTS OFF LISTING OF INSURANCE UNITS

India’s Housing Development Finance Corp (HDFC) now expects to list its insurance units in financial year 2010/11, rather than 2009/10. Managing director Keki Mistry told reporters at the HDFC annual shareholders meeting that “listing in 2010/11 looks logical as of now”. Previously the lender had said that it expected to list in the financial year to March 31 2010. HDFC has a partnership with Standard Life in the life assurance sector, while since October 2007 it has partnered Germany-based Ergo, the primary insurance arm of Munich Re, in non-life insurance.