UPDATE 1 — India's HDFC Life posts quarterly profit rise as premium income rises

(Adds details throughout) BENGALURU, Oct 15 (Reuters) — India's HDFC Life Insurance posted a 13.6% rise in quarterly profit on Thursday, helped by higher premium income, with analysts saying sales through parent HDFC Bank are picking up, aiding growth. Profit stood at 5.08 billion rupees ($53.44 million) for the quarter ended September 30, up from 4.47 billion rupees a year earlier. Over the past year, HDFC Life has grappled with weaker sales through its parent amid heightened regulatory scrutiny of banks' distribution of financial products and intense competition. The bank channel accounts for around 60% of HDFC Life's retail insurance sales, with the parent comprising a major share. HDFC Life's net premium income rose nearly 16% to 217.27 billion rupees. Net commissions paid to distributors rose 15.7% to 26.85 billion rupees. India's insurance sector is set for major reforms as the regulator has proposed overhauling commission rules to cap payouts and link them ​to product complexity, in an effort to curb costs that have ballooned since commission limits were relaxed in 2023. ($1 = 95.0550 Indian rupees) (Reporting by Nishit Navin; Editing by Sonia Cheema and Mrigank Dhaniwala) (