HDFC Life, one of India’s leading life insurance companies, has been awarded the Silver Shield in the Category-III – Life Insurance at the ICAI Awards for Excellence in Financial Reporting 2023-24. The award was presented to HDFC Life by Union Minister Arjun Ram Meghwal at the ICAI Awards ceremony in New Delhi. The Institute of Chartered Accountants of India (ICAI) awards recognize companies that demonstrate outstanding financial reporting standards, and HDFC Life is the only life insurance company to feature among the awardees this year.
HDFC Life has a strong commitment to financially securing Indian citizens through its range of life insurance solutions. Since its inception, the company has provided financial protection to millions of customers and their families, serving as a safety net in times of need while enabling them to achieve their long-term financial goals. The company’s commitment to its policyholders is reflected in its 99.5% claim settlement ratio for FY24.
The award recognizes HDFC Life’s adherence to Indian Accounting Standards, statutory guidelines, and regulatory requirements. Niraj Shah, Executive Director and CFO of HDFC Life, said that the award reinforces the company’s values of transparency and good governance. HDFC Life is committed to financial security, sustainable and responsible business practices, and driving long-term value for stakeholders while contributing to a more resilient future.
HDFC Life’s recognition at the ICAI Awards 2023-24 is a testament to its commitment to good governance, transparency, and financial reporting. The company’s dedication to its policyholders and stakeholders is reflected in its consistent performance and customer-centric approach.