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HDFC Life, a leading life insurer in India, has been recognized with the Silver Shield in Category-III – Life Insurance at the ICAI Awards for Excellence in Financial Reporting 2023-24. The prestigious award was presented to HDFC Life by Union Minister Arjun Ram Meghwal at the ICAI Awards ceremony in New Delhi.
The ICAI Awards, organized by the Institute of Chartered Accountants of India (ICAI) since 1958, recognize companies that demonstrate outstanding financial reporting standards. The winners are selected through a thorough review of their accounting practices, disclosure policies, and presentation of financial statements. HDFC Life is the only life insurance company to feature among the awardees this year, highlighting its commitment to transparency and governance.
As a company that has been financially securing Indian citizens for over two decades, HDFC Life has a proven track record of providing financial protection to millions of customers and their families. Its commitment to policyholders is evident in its 99.5% claim settlement ratio for FY 2024.
Niraj Shah, Executive Director and CFO of HDFC Life, expressed pride in the achievement, stating that the award reinforces the company’s values of transparency and good governance. He emphasized HDFC Life’s commitment to not only financial security for its customers but also sustainable and responsible business practices. The company is continuously strengthening its governance framework while driving long-term value for its stakeholders and contributing to a more resilient future.