Commerce Dashboard

HDFC Standard Life Insurance Company

Go Back

HDFC Standard Life Insurance Company

  • Leading private sector life insurers in India
  • Sold 982.0 thousand policies in FY21
  • 421 branches and more than 11,200 partner branches
  • Net premium income stood at Rs. 381.22 billion (US4 5.19billion) for FY21

HDFC Standard Life Insurance Company was established in 2000 as a JV between Housing Development Finance Corporation Limited (HDFC Ltd) and Standard Life Aberdeen. It was the first private company to get a license from IRDAI in 2001. As of March 2019, the company was providing 38 individual and 11 group insurance products. After strong period of growth, the company completed its initial public offer (IPO) in 2017. HDFC Life continues to benefit from its presence across the country with 414 branches and additional distribution touchpoints through several partnerships. The partnerships comprise 265 bancassurance partners including NBFCs (Non-Banking Financial Companies), MFIs (Micro Finance Institutions), SFBs (Small Finance Banks), etc. and 39 partnerships within non-traditional ecosystems.

Currently the company has the largest share in new business among private life insurers.

Company Website: www.hdfclife.com

HDFC Life – Sar utha ke jiyo!

2021 In January 2021, HDFC Life launched its latest flagship term product ‘Click 2 Protect Life’, which is a non-linked, non-participating, individual term plan to cater to the changing needs of individuals in the different stages of life
2020

In November 2020, HDFC Life and HDFC Ergo have teamed up to launch a combi product ‘Click 2 Protect Corona Kavach’ to provide financial protection package to customers.

In September 2020, HDFC Life and YES BANK Limited entered into a Corporate Agency (CA) arrangement to offer life insurance solutions to the bank’s customers.

In June 2020, HDFC Ergo tied up with tech firm Tropogo to offer commercial drone owners and operators third-party liability cover for property damages and physical injuries from flying machines
2017 AUM crossed Rs. 900,000 crore (US$ 13.82 billion); completed successful IPO
2014 Dividend declared by the company for the first time
2012 Company turned profitable
2011 Incorporated the Subsidiary, HDFC Pension
2010 Assets Under Management (AUM) crossed Rs 200000 crore (US$ 4.37 billion)
2007 Crossed 500,000 policies
2004 Launched unit linked funds
2003 Crossed 100,000 policies
2001 First private life insurer to receive license from IRDAI

 

Insurance
The insurance industry in India is expected to reach US$ 280 billion by the end of 2020. Life insurance industry in the country is expected to grow 12-15% annually over the next three to five years.