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February 07, 2016 7:12 PM ET

Insurance

Company Overview of HDFC Standard Life Insurance Co., Ltd.

Company Overview

HDFC Standard Life Insurance Company Limited provides various individual and group insurance solutions in India. The company provides life insurance plans, such as term insurance, women's, health insurance, and pension plans for retirement planning, child education plans, unit linked insurance plans, and saving and investment plans. As of March 31, 2015, it operated 414 branches approximately in 980 cities and towns. The company was founded in 2000 and is based in Mumbai, India. HDFC Standard Life Insurance Company Limited is a subsidiary of Housing Development Finance Corporation Limited.

Lodha Excelus

12th & 13th Floor

Apollo Mills Compound

N M Joshi Marg, Mahalaxmi

Mumbai,  400011

India

Founded in 2000

15,047 Employees

Phone:

91 22 6751 6666

Fax:

91 22 6751 6333

Key Executives for HDFC Standard Life Insurance Co., Ltd.

Chief Executive Officer, Managing Director, Executive Director, Member of Policyholders Protection Committee, Member of With Profits Committee, Member of Investment Committee, Member of Risk Management Committee and Member of Corporate Social Responsibility Committee
Age: 51
Chief Financial Officer, Executive Director, Member of Investment Committee, Member of Risk Management Committee, Member of Policyholders Protection Committee and Member of Corporate Social Responsibility Committee
Chief Investment Officer, Senior Executive Vice President and Member of Investment Committee
Head of Marketing, Product, Digital & E-Commerce and Senior Executive Vice President
Head of Group Sales & Bancassurance and Executive Vice President
Compensation as of Fiscal Year 2015.

HDFC Standard Life Insurance Co., Ltd. Key Developments

HDFC Standard Life Insurance Co., Ltd. Reports Audited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015

HDFC Standard Life Insurance Co., Ltd. reported audited earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported total premium of INR 358.1 million against INR 362.2 million a year ago. IGAPP profit after taxes was INR 17.4 million against INR 12.0 million a year ago. For the nine months, the company reported total premium of INR 1,017.1 million against INR 948.7 million a year ago. IGAPP profit after taxes was INR 58.9 million against INR 57.5 million a year ago.

HDFC Standard Life Insurance Co., Ltd., Board Meeting, Jan 20, 2016

HDFC Standard Life Insurance Co., Ltd., Board Meeting, Jan 20, 2016. Agenda: To approve the unaudited standalone financial results for the third quarter and nine months ended Dec. 31, 2015.

HDFC Standard Life Insurance Co., Ltd. Announces Incorporation of Wholly-Owned Subsidiary in the Dubai International Financial Centre as ??HDFC International Life and Re Company Limited

Housing Development Finance Corporation Ltd. announced that HDFC Standard Life Insurance Company Limited, a material subsidiary of the Corporation, on January 10, 2016, has incorporated a wholly-owned subsidiary in the Dubai International Financial Centre (DIFC) called the ??HDFC International Life and Re Company Limited (HILRCL) with an initial capital outlay of USD 12.33 million. Further, HILRCL will operate in DIFC, and shall shortly commence its business operations, subject to completion of further regulatory formalities for obtaining the final license from the Dubai Financial Services Authority. HILRCL would be in the business of offering reinsurance capacity to ceding insurers and may also foray into directly underwriting insurance contracts, subject to receipt of necessary approvals. It would initially offer reinsurance capacity in the UAE and subsequently expand to other jurisdictions, using either of the aforesaid business models.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 14, 2015
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