The company offers a comprehensive range of insurance products catering to both individuals and businesses. For individuals, it provides health, motor, travel, home, and personal accident insurance. For businesses, it offers property insurance, marine insurance, liability insurance, and other specialized products.
HDFC ERGO is known for its customer-centric approach and innovative use of technology. It has implemented AI-driven tools and digital platforms to simplify processes like policy issuance, claims settlement, and customer support. The company boasts a vast network of branches across India and a 24/7 support system to ensure seamless service.
Latest News on HDFC Life
HDFC Life has been ranked as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurer in India, has been recognized as a ‘Next Leader’ in corporate governance by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company’s commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured on this prestigious list for the fourth consecutive year, which is based on the annual assessment of the BSE 100 companies using the Indian Corporate Governance Scorecard framework.
The scorecard framework is developed jointly by IFC, BSE, and IiAS and is based on the G20/OECD Principles of Corporate Governance. It has been in use since 2015 and assesses companies on their corporate governance practices. HDFC Life’s recognition is a significant achievement, especially as the company enters its 25th year of operations. The company’s superior standards of corporate governance have been acknowledged, and it is seen as a leader in the industry.
According to Narendra Gangan, General Counsel, Chief Compliance Officer, and Company Secretary of HDFC Life, the company is committed to adhering to the highest standards of corporate governance. He stated that ensuring adherence to these standards is a way of life for HDFC Life and that the company endeavors to stay true to its commitment towards all aspects of Environment, Social, and Governance (ESG).
The recognition is a significant milestone for HDFC Life as it continues its journey of securing the lives of Indian citizens. The company is working towards achieving the industry’s collective goal of ‘Insurance for All by 2047’. HDFC Life’s commitment to corporate governance and ESG is reflected in its business practices, and this recognition is a testament to its efforts. Overall, HDFC Life’s recognition as a ‘Next Leader’ in corporate governance is a significant achievement that reflects the company’s commitment to transparency, accountability, and exemplary governance practices.
Empowering global dreams with USD Plans by HDFC Life International – Companies
As the world celebrates Pravasi Bharatiya Divas, a day dedicated to honoring the contributions of Non-Resident Indians (NRIs), HDFC Life International is taking the opportunity to acknowledge the aspirations of both NRIs and Resident Indians with global ambitions. On this special occasion, Rahul Prasad, CEO of HDFC Life International and Re Company Limited, is highlighting the benefits of USD Plans designed specifically for individuals pursuing opportunities abroad.
These USD Plans are tailored to provide financial security, savings in USD, and global coverage, catering to the unique needs of NRIs and Resident Indians with international aspirations. Whether you are an NRI looking to secure your family’s future or a Resident Indian with dreams of exploring global opportunities, these plans offer unmatched benefits and flexibility to help you achieve your goals.
By investing in USD Plans, individuals can enjoy the benefits of savings in a stable currency, while also gaining access to global coverage and financial security. This means that, regardless of where you are in the world, you can have peace of mind knowing that you and your loved ones are protected.
As HDFC Life International celebrates Pravasi Bharatiya Divas, the company is encouraging individuals to take the first step towards empowering their global dreams. By watching a special video, viewers can learn more about the benefits of USD Plans and how they can help achieve their ambitions. The video features Rahul Prasad, who provides insight into the design and benefits of these plans, highlighting their potential to help individuals achieve financial security and global coverage.
Overall, HDFC Life International’s celebration of Pravasi Bharatiya Divas is a tribute to the aspirations and achievements of NRIs and Resident Indians with global ambitions. By offering innovative solutions like USD Plans, the company is enabling individuals to pursue their dreams, both at home and abroad. As the world becomes increasingly interconnected, the importance of financial security and global coverage cannot be overstated, and HDFC Life International is committed to providing the necessary support and resources to help individuals achieve success.
HDFC Life has appointed Pushkar Wadhone as its new Vice President of Human Resources.
HDFC Life, a leading insurance company, has appointed Pushkar Wadhone as its new Vice President of Human Resources. Wadhone brings over a decade of experience in HR leadership across diverse industries, including logistics, healthcare, and life sciences. He is an alumnus of XLRI Jamshedpur, one of India’s premier business schools, with a specialization in Human Resource Management.
In his previous roles, Wadhone has worked with companies such as DP World, Mahindra Logistics, Thermo Fisher Scientific, and Sanofi, where he designed HR frameworks, aligned workforce strategies with business goals, and managed cross-functional teams. At DP World, he served as the HR Business Partner, contributing to talent development initiatives and strengthening organizational culture.
As Vice President of Human Resources at HDFC Life, Wadhone will oversee the company’s human resource strategies, focusing on talent management and organizational development. His appointment reflects the company’s focus on strengthening its human resource functions to support business growth, particularly in the areas of employee engagement and leadership development. The insurance industry is currently navigating shifts in workforce dynamics due to digital transformation and regulatory changes, and Wadhone’s expertise in strategic HR planning is expected to play a significant role in aligning the company’s workforce strategies with its long-term objectives.
Wadhone’s track record suggests a focus on fostering a resilient and performance-driven workforce. His experience in workforce planning, stakeholder engagement, and HR strategy will be valuable assets to HDFC Life as it seeks to address the evolving human resource needs of the insurance sector. The company has not disclosed further details about its HR plans under Wadhone’s leadership, but his appointment is seen as a significant step towards strengthening its human resource functions and supporting business growth. With Wadhone at the helm, HDFC Life is poised to navigate the changing landscape of the insurance industry and emerge as a leader in the sector.
Policybazaar and HDFC Life have partnered to launch a product that comes with a 100% claim assurance.
Policybazaar, a leading online insurance marketplace, has partnered with HDFC Life, a private life insurer, to launch a new term insurance product called HDFC Life Click 2 Protect Ultimate. This innovative product offers 100% claim assurance, providing customers with a secure financial safety net and a hassle-free claims experience. The product is designed to address two key consumer concerns: ease of purchasing insurance and a smooth claims process.
The HDFC Life Click 2 Protect Ultimate product comes with several key features, including Return of Premium on Maturity, which allows policyholders to get back their premiums at the time of maturity. It also offers a Terminal Illness Benefit, which provides timely financial support in cases of specified terminal illnesses. Additionally, policyholders can opt for a Smart Exit Benefit, which allows them to exit the policy and get back the entire premium, excluding taxes.
The product is targeted at salaried professionals earning ₹10 lakh or above annually and is currently available in major urban centers across India. The rigorous medical underwriting process at issuance ensures that customers are thoroughly assessed before being issued a policy.
According to Santosh Agarwal, CBO, Life Insurance, Policybazaar.com, the HDFC Life Click 2 Protect Ultimate is an industry-first product that reflects the company’s commitment to making insurance more customer-centric. Jatin Sabhani, Chief BroCA & Digital Alliances Officer, HDFC Life, added that the product further strengthens the company’s proposition of delivering on its promises and ensuring that customers’ families are financially secure during their most vulnerable times.
Overall, the HDFC Life Click 2 Protect Ultimate is a unique product that combines financial protection with a seamless claim process, catering to the evolving needs of discerning customers. With its innovative features and rigorous underwriting process, it is an attractive option for those seeking reliability and transparency in their insurance policies.
HDFC Life and SATYA MicroCapital have partnered to increase life insurance penetration in rural areas.
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Stock Market Updates for HDFC
Recent Updates
HDFC Life appoints Pritika Shah as Head of Marketing, as CMO Vishal Subharwal departs.
HDFC Life, a leading life insurance provider in India, has announced the elevation of Pritika Shah to the position of Executive Vice President and Head of Marketing and Corporate Social Responsibility (CSR). Shah, who has been with the company for nearly 12 years, will oversee the development and implementation of marketing strategies, brand initiatives, and CSR programs. This move comes after the departure of Vishal Subharwal, who served as the Chief Marketing Officer (CMO) and Group Head at HDFC Life for six years.
During his tenure, Subharwal played a crucial role in shaping the company’s strategic direction, strengthening its digital presence, and expanding its e-commerce capabilities. He implemented innovative marketing strategies that enhanced customer engagement and contributed to the company’s growth. Subharwal’s departure marks the end of an era, and Shah’s appointment is expected to bring new perspectives and ideas to the marketing and CSR functions.
Pritika Shah brings a wealth of experience to her new role, with a career spanning over two decades. She has worked with several financial brands, including Aditya Birla Capital, Bharti AXA, and GE Money, as well as consumer companies like Pizza Hut and Dabur. Her previous role at HDFC Life was as Senior Vice President of Marketing and Customer Relationship Management (CRM). In her new capacity, Shah will aim to further strengthen HDFC Life’s position as a trusted life insurance provider in India.
HDFC Life, a joint venture between HDFC Ltd. and Abrdn (formerly Standard Life), serves over 70 million customers and has been at the forefront of leveraging technology and customer-centric strategies to enhance its offerings. The company has been successful in creating a strong brand presence in the Indian market, and Shah’s appointment is expected to build on this momentum. With her expertise and experience, Shah is well-equipped to lead the marketing and CSR functions and contribute to the company’s continued growth and success. Overall, the elevation of Pritika Shah to EVP and Head of Marketing and CSR is a significant development for HDFC Life, and the company is expected to benefit from her leadership and expertise.
HDFC Life Receives ICAI Award for Excellence in Financial Reporting for 2023-24
HDFC Life, a leading life insurer in India, has been awarded the Silver Shield in Category-III for Life Insurance at the ICAI Awards for Excellence in Financial Reporting 2023-24. The prestigious award was presented by Honourable Union Minister of State Shri Arjun Ram Meghwal at a ceremony held in New Delhi. The ICAI Awards, organized by the Institute of Chartered Accountants of India since 1958, recognize companies that demonstrate outstanding financial reporting standards.
The award is a testament to HDFC Life’s commitment to transparency and good governance. The company’s financial statements, disclosure policies, and presentation of financial statements were thoroughly reviewed by the esteemed jury, and it was selected as one of the top two winners for its adherence to Indian Accounting Standards, statutory guidelines, and regulatory requirements. Notably, HDFC Life is the only life insurance company to feature among the awardees this year.
HDFC Life has been continuously working towards financially securing Indian citizens by offering a range of life insurance solutions. 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. HDFC Life’s commitment to its policyholders is reflected in its impressive 99.5% claim settlement ratio for FY24.
Niraj Shah, Executive Director & CFO of HDFC Life, expressed his pride and gratitude upon receiving the award. He emphasized that the award reinforces the company’s values of transparency and good governance. HDFC Life is committed not only to the financial security of its customers but also to sustainable and responsible business practices. The company continues to strengthen its governance framework while driving long-term value for its stakeholders and contributing towards a more resilient future. This recognition is a significant achievement for HDFC Life, and it underscores the company’s dedication to excellence in financial reporting and governance.
HDFC Life has been recognized as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurance company in India, has been recognized as a ‘Next Leader’ in the Indian Corporate Governance assessment conducted by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company’s commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured in this prestigious list for the fourth consecutive year, which is based on the annual assessment of the BSE 100 companies using the Indian Corporate Governance Scorecard framework.
The scorecard framework is developed jointly by IFC, BSE, and IiAS and is based on the G20/OECD Principles of Corporate Governance. HDFC Life’s recognition comes as the company enters its 25th year of operations, and it is seen as an acknowledgement of the company’s superior standards of corporate governance. The company’s General Counsel, Chief Compliance Officer, and Company Secretary, Narendra Gangan, expressed delight at the recognition, stating that ensuring adherence to the highest standards of corporate governance is a way of life for HDFC Life.
Gangan emphasized that the company is committed to all aspects of Environment, Social, and Governance (ESG) and humbly accepts the recognition as it continues its journey of securing the lives of Indian citizens. The recognition is also seen as a step towards achieving the industry’s collective goal of ‘Insurance for All by 2047’. HDFC Life’s commitment to corporate governance and ESG practices is evident in its consistent performance and recognition in the industry. The company’s focus on transparency, accountability, and governance practices has earned it a reputation as a leader in the life insurance sector in India.
New Term Insurance From Policybazaar, HDFC Life
Policybazaar has announced a partnership with HDFC Life to introduce a new term insurance plan called HDFC Life Click 2 Protect Ultimate. This plan guarantees 100% claim assurance, addressing a major concern for consumers who often worry about the hassle and uncertainty of claim settlements. The plan is designed to provide financial security with a seamless claims process, making it an attractive option for those seeking reliable insurance coverage.
One of the key features of the plan is the return of premiums upon maturity, which adds value for policyholders. In cases of specified terminal illnesses, the death benefit is accelerated after a six-month waiting period, ensuring that policyholders receive timely financial support. Additionally, policyholders have the option to exit the policy and receive a refund of premiums paid, excluding taxes.
The plan is targeted at salaried professionals earning Rs 10 lakh or more annually and is currently available in major cities across India, including Delhi, Mumbai, and Bangalore. To maintain its 100% claim assurance, the plan follows a rigorous medical underwriting process.
According to Santosh Agarwal, Chief Business Officer of Life Insurance at Policybazaar, the plan is a testament to the company’s commitment to customer-centric insurance and eliminates uncertainties in claims settlement. Jatin Sabhani, Chief Broker & Digital Alliances Officer at HDFC Life, added that the product further strengthens the company’s proposition of providing financial security for families in vulnerable times.
Overall, the HDFC Life Click 2 Protect Ultimate plan offers a comprehensive and reliable term insurance solution that addresses key consumer concerns. With its 100% claim assurance, return of premiums, and accelerated death benefit, this plan is an attractive option for those seeking financial security and peace of mind. The partnership between Policybazaar and HDFC Life is a significant development in the insurance industry, and the plan is expected to be well-received by consumers seeking trustworthy and efficient insurance coverage.
Q4 results today: Infosys, Tata Elxsi, HDFC Life, HDFC AMC and others to declare earnings on April 17
The earnings season has begun on Dalal Street, with several companies announcing their financial results for the quarter and year ended March 31, 2025. On April 17, 13 companies, including tech major Infosys, are set to declare their earnings. Infosys, India’s second-largest IT company, is expected to report muted earnings and a sequential fall in revenue for the quarter due to seasonal weakness in demand and margin pressure.
According to JM Financial, Infosys is estimated to record a net profit of ₹6,488 crore in Q4FY25, a fall of 4.7% from ₹6,806 crore in the previous quarter. The company’s revenue in the March quarter is expected to fall 0.4% to ₹41,617 crore from ₹41,764 crore in the previous quarter. Other companies announcing their results on April 17 include HDFC Asset Management Company, HDFC Life Insurance Company, Indosolar, Mahindra EPC Irrigation, and Tata Elxsi.
Several other companies are scheduled to announce their results this week, including tech giants Wipro and major banks such as HDFC Bank, Yes Bank, and ICICI Bank. On April 16, companies like Angel One, Ballarpur Industries, GTPL Hathway, and Wipro announced their financial results. On April 18, Amal, Mastek, Network 18 Media & Investments, and Orosil Smiths India will declare their earnings.
Investors are advised to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary. The views and recommendations provided in the analysis are those of individual analysts or broking companies and not of the publication. With the earnings season in full swing, investors will be closely watching the results of these companies to gauge their performance and make informed investment decisions.
ICICI Prudential Life has achieved the highest claim settlement ratio of 99.04% in the second quarter of the fiscal year 2025. Here’s how other insurance companies rank in terms of claim settlement ratio:* ICICI Prudential Life: 99.04% * [Insert other insurers’ ratios] Note: The claim settlement ratio is a key metric that indicates the percentage of death claims settled by an insurer out of the total claims received. A higher ratio suggests a better track record of settling claims.
ICICI Prudential Life Insurance has achieved a claim settlement ratio of 99.04% for the July-September quarter of FY2025, the highest among all life insurance companies in the country. The company settled claims worth Rs 451.05 crore during this period, with an average claim settlement turnaround time of just 1.2 days. According to Amish Banker, Chief Operations Officer, the company handles every claim with utmost sensitivity, considering it the ultimate moment of truth.
The company’s ‘Claim for Sure’ initiative promises to settle eligible claims in one day after all documents are submitted. In Q2 FY2025, ICICI Prudential Life Insurance settled death claims amounting to Rs 71.24 crore under this initiative. The company has consistently had industry-leading claim settlement ratios, with 97.94% in Q1 FY2024, 98.14% in Q2 FY2024, 98.52% in Q3 FY2024, and 99.17% for the entire FY2024.
Technology has played a significant role in enabling the company to settle claims quickly, reducing the financial distress caused to the family due to the demise of the earning member. Claimants can use digital enablers such as the mobile app, WhatsApp, Chatbot, and website to easily lodge and track claims. The company’s high claim settlement ratio is a testament to its commitment to providing excellent customer service.
The claim settlement ratio is crucial from the customer’s perspective as it indicates the insurer’s ability to pay the nominee of the policyholder. The primary objective of buying an insurance policy is to protect loved ones financially in case of unforeseen events. If the insurer fails to honor the claim, the purpose of being insured is defeated. A high claim settlement ratio provides customers with the assurance that their claims will be settled promptly and efficiently.
In comparison to other life insurance companies, ICICI Prudential Life Insurance’s claim settlement ratio is the highest. According to the L-40 report, other companies such as Bajaj Life, TATA AIA Life, HDFC Life, SBI Life, Max Life, and LIC have lower claim settlement ratios. ICICI Prudential Life Insurance’s commitment to settling claims quickly and efficiently sets it apart from its competitors, making it a trusted choice for customers.
HDFC Life has been ranked as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurer in India, has been recognized as a ‘Next Leader’ in the Indian Corporate Governance assessment conducted by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company’s commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured on this prestigious list for the fourth consecutive year, which is based on the annual assessment of the BSE 100 companies using the Indian Corporate Governance Scorecard framework.
This framework, developed jointly by IFC, BSE, and IiAS, is based on the G20/OECD Principles of Corporate Governance and has been in use since 2015. The recognition comes as HDFC Life enters its 25th year of operation, highlighting the company’s superior standards of corporate governance. Narendra Gangan, General Counsel, Chief Compliance Officer, and Company Secretary of HDFC Life, expressed the company’s delight at being part of this esteemed list, stating that ensuring adherence to the highest standards of corporate governance is a way of life for the company.
HDFC Life endeavors to stay true to its commitment towards all aspects of Environment, Social, and Governance (ESG) and humbly accepts this recognition. The company continues its journey of securing the lives of Indian citizens and working towards achieving the industry’s collective goal of ‘Insurance for All by 2047’. This recognition is a significant milestone for HDFC Life, demonstrating its dedication to maintaining the highest standards of corporate governance and its commitment to transparency and accountability.
The Indian Corporate Governance Scorecard framework is a widely recognized benchmark for assessing corporate governance practices in India. By being featured on this list for the fourth consecutive year, HDFC Life has demonstrated its consistent commitment to upholding the highest standards of governance, transparency, and accountability. This recognition is a testament to the company’s unwavering dedication to its stakeholders, including customers, employees, and investors. As HDFC Life continues to grow and evolve, it remains committed to maintaining its position as a leader in the Indian life insurance industry.
ICICI Prudential Life Insurance and Axis Max Life Insurance are leading the way in customer experience.
The Hansa Research Life Insurance CuES 2025 report has ranked the top life insurance companies in India based on customer experience. The report is based on feedback from over 3600 customers across 13 life insurance brands in the country. The report reveals a significant improvement in customer experience in the life insurance industry, with a notable increase in the Net Promoter Score (NPS) from 54% to 58% over the past year. This improvement can be attributed to insurers effectively meeting customer expectations in key areas such as operational efficiency, transparency, and post-sales service support.
The report highlights that customers are associating life insurance brands more positively, especially in aspects like ‘trust and transparency,’ ‘innovation,’ and being ‘customer-oriented.’ The NPS for the insurance industry has seen a remarkable increase of 20 points over the past five years, rising from 38% in 2021 to 58% in 2025. This improvement is a result of insurers effectively meeting customer expectations and delivering exceptional brand and customer experiences.
The top-ranking life insurance companies in the report include ICICI Prudential Life Insurance and Axis Max Life Insurance, which have achieved impressive NPS scores of 65% and 64%, respectively. Tata AIA, Kotak Life Insurance, and HDFC Life Insurance have also shown significant improvement in their customer experience offerings. SBI Life Insurance has made significant strides in improving its NPS and ranking high on trust and affordability.
The report also highlights five key trends that will shape the industry in the future. These trends include the economic influence on financial investment decisions, the evolution of life insurance needs, millennial expectations, what women want, and digital services. The report emphasizes the need for insurers to deliver experiences and products tailored to the diverse needs, preferences, and communication styles of India’s fragmented demographics, especially customers in non-metros, millennials, and women.
The report suggests that brands must focus on addressing financial literacy, behavioral biases, and simplifying product complexity to thrive in the future. Success lies in aligning products with customer needs and profiles while delivering seamless, personalized experiences. The report also notes that customer expectations have shifted from purely transactional interactions to relationship-driven engagement, a trend that continues to strengthen and shape the industry’s evolution.
Overall, the report provides valuable insights for life insurance companies to prioritize and better position their business strategies and investments in the year to come. It emphasizes the importance of continuous enhancements in customer engagement strategies and delivering exceptional brand and customer experiences to drive leadership in the industry.
The life insurance industry’s Assets Under Management (AUM) has reached Rs. 62 lakh crore in 2024.
The life insurance industry in India has witnessed significant growth, with the Assets Under Management (AUM) increasing by over 9% to Rs. 62 lakh crore in March 2024 from Rs. 55 lakh crore in March 2023, according to data from the Insurance Regulatory and Development Authority of India (IRDAI). Life Insurance Corporation of India (LIC) commands the highest AUM of Rs. 44 lakh crore, accounting for 72% of the total AUM.
Private players have a total AUM of Rs. 18 lakh crore, with SBI Life and HDFC Life taking the second and third positions, managing AUM of Rs. 3.85 lakh crore and Rs. 2.87 lakh crore, respectively. ICICI Prudential Life is at the fourth position with assets of Rs. 2.86 lakh crore. Other notable players include Max Life, Bajaj Allianz Life, Tata AIA Life, and Aditya Birla Sunlife.
The data also reveals that 18 out of 25 life insurers have reported double-digit growth in their AUM over the last year. Tata AIA Life Insurance has reported the highest growth of nearly 39%, followed by Star Union Dai-ichi Life Insurance with a growth of 28%, and SBI Life Insurance with a growth of 26%.
New entrants in the life insurance industry include Go Digit Life, Credit Access Life, and Acko Life. Go Digit Life reported the highest AUM of Rs. 399 crore among the three, followed by Credit Access Life with Rs. 216 crore, and Acko Life with Rs. 159.25 crore.
The top 10 life insurers in terms of AUM are:
1. LIC – Rs. 44,23,580 crore
2. SBI Life – Rs. 3,85,095 crore
3. HDFC Life – Rs. 2,87,137 crore
4. ICICI Prudential Life – Rs. 2,86,820 crore
5. Max Life – Rs. 1,47,428 crore
6. Bajaj Allianz Life – Rs. 1,07,800 crore
7. Tata AIA Life – Rs. 96,799 crore
8. Aditya Birla Sunlife – Rs. 85,763 crore
9. Kotak Mahindra Life – Rs. 79,227 crore
10. PNB Metlife India – Rs. 47,420 crore
The growth in the life insurance industry is a positive sign for the sector, indicating increasing awareness and demand for life insurance products among consumers. The data also highlights the dominance of LIC in the market, as well as the growing presence of private players.
HDFC Life elevates Pritika Shah to Executive Vice President and Head of Marketing and Corporate Social Responsibility.
HDFC Life, one of India’s leading life insurance companies, has announced the promotion of Pritika Shah to Executive Vice President (EVP) and Head of Marketing & Corporate Social Responsibility (CSR). This move comes after the departure of Vishal Subharwal, who previously held the position of Head of Marketing at HDFC Life.
Pritika Shah’s elevation is a significant development, as she will now be responsible for leading the company’s marketing and CSR initiatives. With her new role, Shah will oversee the development and execution of marketing strategies, brand management, and CSR programs aimed at promoting the company’s mission and values.
Shah’s promotion is a testament to her exceptional leadership skills and contributions to HDFC Life. Her experience and expertise in marketing and brand management will be invaluable in driving the company’s growth and success. As EVP and Head of Marketing & CSR, Shah will play a crucial role in shaping the company’s brand identity, building customer engagement, and promoting social responsibility initiatives.
The announcement of Shah’s promotion has been reported by several leading industry publications, including BW Marketing World, ET BrandEquity, Exchange4media, Storyboard18, and MediaNews4U. These publications have highlighted Shah’s new role and responsibilities, as well as her background and experience in the marketing and insurance industries.
HDFC Life’s decision to promote Shah to EVP and Head of Marketing & CSR demonstrates the company’s commitment to recognizing and rewarding talent from within its ranks. The move is also expected to bring fresh perspectives and ideas to the company’s marketing and CSR initiatives, driving growth and innovation in the life insurance sector.
Under Shah’s leadership, HDFC Life is likely to continue its focus on customer-centric marketing, digital transformation, and social responsibility initiatives. The company’s marketing efforts will aim to build stronger connections with customers, promote financial literacy, and support community development programs. With Shah at the helm, HDFC Life is poised to strengthen its brand presence, drive business growth, and make a positive impact on society.
HDFC Life introduces Click 2 Achieve Par Advantage
HDFC Life has launched a new product called HDFC Life Click 2 Achieve Par Advantage, designed to provide individuals with a flexible and secure way to plan for their long-term financial goals. According to Aneesh Khanna, Head of Products & Segments at HDFC Life, the product is tailored to meet the specific needs of individuals at different life stages, taking into account their age, income, and plans for the future. The goal of HDFC Life Click 2 Achieve Par Advantage is to provide a financial safety net that protects individuals’ dreams and aspirations against uncertainties.
The product offers several key features, including the Policy Continuance Benefit (PCB) option, which waives future premiums in the event of the policyholder’s death. In such a scenario, the death benefit is paid out as a lump sum, and future benefits under the plan continue for the nominee or survivor. Additionally, the product offers a choice of death benefit multiples, allowing policyholders to customize their coverage to meet their specific needs. The options include death benefit multiples of 5x, 7x, or 11x.
Another key feature of HDFC Life Click 2 Achieve Par Advantage is the Paid Up Addition option, which allows policyholders to convert partial or entire cash bonuses payable into paid-up additions. These paid-up additions can be encashed at any time during the term of the policy, providing policyholders with a degree of liquidity and flexibility.
Overall, HDFC Life Click 2 Achieve Par Advantage is designed to provide individuals with a comprehensive and customizable life insurance solution that meets their unique needs and goals. With its range of features and options, the product offers a high degree of flexibility and security, making it an attractive option for those looking to plan for their long-term financial future. By launching this product, HDFC Life is reinforcing its commitment to providing innovative and customer-centric life insurance solutions that help individuals achieve their financial goals and protect their loved ones.
HDFC Life has been recognized as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024, as reported by ThePrint and ANI Press Releases.
HDFC Life, one of India’s leading life insurance companies, has been recognized as a “Next Leader” in corporate governance by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company’s commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured in this prestigious list for the fourth consecutive year, which assesses the BSE 100 companies based on the Indian Corporate Governance Scorecard framework.
The scorecard framework, developed jointly by IFC, BSE, and IiAS, is based on the G20/OECD Principles of Corporate Governance and has been in use since 2015. HDFC Life’s recognition comes as the company enters its 25th year of operations, highlighting its superior standards of corporate governance. The company’s General Counsel, Chief Compliance Officer, and Company Secretary, Narendra Gangan, expressed delight at being part of this esteemed list, stating that adherence to the highest standards of corporate governance is a way of life for HDFC Life.
The company endeavors to stay true to its commitment towards all aspects of Environment, Social, and Governance (ESG). The recognition is a significant milestone for HDFC Life as it continues its journey of securing the lives of Indian citizens and working towards achieving the industry’s collective goal of “Insurance for All by 2047.” This achievement demonstrates HDFC Life’s dedication to upholding the highest standards of corporate governance, transparency, and accountability, making it a leader in the Indian life insurance industry.
The recognition by IiAS is a reflection of HDFC Life’s unwavering commitment to its stakeholders, including customers, employees, and investors. The company’s adherence to the principles of corporate governance has enabled it to build trust and credibility in the market, contributing to its success over the years. As HDFC Life looks to the future, it remains committed to maintaining the highest standards of corporate governance, ensuring that its operations are guided by transparency, accountability, and a strong sense of responsibility.
Life insurers’ first-year premiums increased by 2% in March and 5.1% in the fiscal year 2025.
The life insurance industry in India has reported a 2% year-on-year increase in first-year premiums for the month of March, with total collections reaching ₹61,439 crore. This growth is a welcome relief after a weak February, which saw a 12% year-on-year decline in premiums. For the entire financial year 2024-25 (FY25), first-year premiums have increased by 5.1% year-on-year.
Among private insurers, ICICI Prudential Life Insurance has reported an impressive 18% rise in March premiums, with its total annualized premium equivalent (APE) increasing by 32% year-on-year. HDFC Life has also reported a 5% growth in March premiums, with a 6% increase in total APE. Axis Max Life has seen a 1% rise in March premiums, with an 11% jump in total APE.
However, not all insurers have reported positive growth. SBI Life has reported an 11% decline in March premiums, although its total APE has risen by 2% year-on-year. LIC, the largest life insurer in India, has reported a 2% increase in March premiums, but its total APE has declined by 4%.
In February, private insurers had reported a 3% rise in premiums, with their 11-month FY25 premium collections growing by 11% year-on-year. Total APE had risen by 8%, while retail APE had increased by 2% during the same period. HDFC Life had reported a 24% year-on-year growth in February premiums, while ICICI Prudential had seen a 5% rise.
The growth in the life insurance industry is a positive sign, indicating that consumers are increasingly seeking protection and savings products. The industry is expected to continue growing, driven by increasing awareness and demand for life insurance products. However, the decline in premiums reported by some insurers, such as SBI Life, is a cause for concern and may be due to various factors, including intense competition and regulatory changes. Overall, the life insurance industry in India is expected to remain competitive and dynamic, with insurers focusing on innovation, customer engagement, and product development to drive growth.