HDFC Life Insurance Company Ltd. (formerly HDFC Standard Life Insurance Company Limited) (‘HDFC Life’ / ‘Company’) is a joint venture between HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment Company. The company was incorporated in Mumbai on August 14, 2000 as HDFC Standard Life Insurance Company Limited a public limited company under the Companies Act, 1956. The company obtained a certificate of commencement of business on October 12, 2000 and the certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI) to undertake life insurance business on October 23, 2000. It is a leading life insurance solutions provider in India, offering innovative protection, pension, savings, investment, annuity and health solutions to customers.

HDFC Life Insurance Company has the list of products for progressive employers and groups who wish to provide the best and most innovative benefit solutions to their employees or members. It offers different products for different needs of groups ranging from group term insurance plans for pure protection, Savings Solutions for employees/members, Credit Life to cover the borrowers of an organization to voluntary funded plans such as gratuity and leave encashment. Registered Office of the company is Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011.

Business area of the economy

It is one of the leading life insurance companies in India.  It offers a large range of life insurance plans such as term insurance plan, women's plan, health insurance plans, pension plans for retirement planning, child education plans, ULIPs, saving and investment plans. It sells policies through a multi channel network. This includes direct sales through own branches, Insurance agents, Partner Banks and through other financial institutions. The company has a broad, diversified product portfolio covering five principal segments across the individual and group categories, namely participating, non-participating protection term, non-participating protection health, other non participating and unit-linked insurance products. The company’s wide product suite caters to specific needs of customers during each stage of their lives. It also provides the company with the flexibility to operate successfully across business cycles, work with diverse sets of distribution partners and serve a range of consumers from mass market to high net worth individuals. It also provides the company with the flexibility to adapt to changes in the regulatory landscape and mitigate concentration risk in respect of particular categories or types of products.

Certifications, awards and accreditations

• 2011: Golden Peacock HR Excellence Award.
• 2012: Won Porter Prize for leveraging unique activities.
• 2012: Won National Award for Excellence in Cost Management, awarded by the Institute of Cost Accountants of India.
• 2013: Won National Award for Excellence in Cost Management for second consecutive year.
• 2013: Recognized by Celent as Model Insurer Asia of the Year.
• 2014: PCQuest Best IT Implementation Award for Qlik Insights BI Development - Project with Maximum Business Impact.
• 2015: Indian Insurance Awards: Won Life Insurance Company of the Year, awarded by Fintelekt.
• 2015: Financial Services Marketing Summit Awards - Most Customer Responsive Insurance Company of the Year.
• 2016: ICAI Awards - Gold Shield for Excellence in Financial Reporting for the Annual Report.
• 2016: The Indian Insurance Awards for Best Product Innovation (Life Insurance) by Fintelekt.
• 2016: Finnoviti award to recognize and reward innovations in Banking, Financial Services and Insurance (BFSI) - Received for Cancer Care, a first of its kind standalone cancer care product from a life insurer.
• 2017: India's Best Companies to Work For - The India's Best Companies to Work for study is conducted by The Economic Times & Great Place To Work Institute.
• 2019: It won the ‘Platinum’ at the LACP Vision Awards for the 2018-19 Annual Report. The Report was ranked 22nd amongst the top 100 reports worldwide and adjudged the ‘Most Creative’ Annual Report globally.
• 2019: It was awarded the ‘ICAI Silver Award’ for excellence in Financial Reporting for its Annual Report 2018-19 in the Life Insurance category
• 2020: Its Business Insights team received the award for ‘Best Use of Data Analytics in Business Intelligence’ at The Customer Fest Awards 2020.
• 2020: its Swabhimaan initiatives received the YUVA Unstoppable ‘Change Maker Award
  
• 2020’ from the Minister of State for Finance & Corporate Affairs-GOI.
• 2020: It received the award for ‘iEARN and LMS’ in the BFSI category at the FINNOVITI 2020 Conference & Awards.
• 2020: It won the Gold & Bronze at the Campaign Media 360 Awards 2020 for the ‘JioSaavn Kahani Express’ campaign in the ‘Branded Content’ and ‘Media Partnerships’ category respectively.

Major events and milestones

• 2001: First private life insurer to obtain registration from the IRDAI.
• 2003: Crossed 100,000 policies and 10,000 individual agents; distribution tie-ups with HDFC Bank and other banks.
• 2004: Launch of unit linked funds; distribution tie-up with Saraswat Co-operative Bank Limited.
• 2007: Crossed the 500,000 policy milestone.
• 2010: AUM crossed Rs 200,000 million.
• 2011: Incorporated its Subsidiary, HDFC Pension on June 20, 2011.
• 2012: The company turned profitable, and registered a profit of Rs 2,710 million and the total premium for the year crossed Rs 100,000 million.
• 2014: The company’s AUM crossed Rs 500,000 million; dividend was declared for the first time in December, 2013.
• 2016: Total premium crossed the Rs 160,000 million mark.
• 2016: The company’s Subsidiary, HDFC International was authorised by Dubai Financial Services Authority to carry on financial services.
• 2016: Standard Life Mauritius increased its stake from 26% to 35%.
• 2018: The company’s AUM crossed Rs 1,000,000 million.