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!
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|