HDFC, Lifes

HDFC Life?s Assets Under Management Cross Rs. 3 Lakh Crore

05.06.2024 - 13:41:50

companies, announced that it has crossed Rs. 3 lakh crore in Assets Under Management (AUM). This milestone reflects the company's consistent growth and commitment to managing its policyholders' assets prudently.
HDFC Life has a debt: equity mix of 67:33 with ~99% of debt investments in Government bonds and AAA rated securities as on Mar 31, 2024.
Prasun Gajri – Chief Investment Officer, HDFC Life, commented, "Reaching Rs. 3 lakh crore in AUM highlights our ongoing focus on disciplined investment practices and strategic asset allocation. This milestone underscores our dedication to managing our customers' investments responsibly and our commitment to delivering superior risk adjusted returns. We will continue to uphold high standards of investment management to serve the best interests of our policyholders.”
HDFC Life follows a Responsible Investment policy. The objective of this policy is to generate optimal risk adjusted returns over the long term through consideration of environmental, social and governance factors in investment decisions. HDFC Life also became signatory to United Nations – supported Principles for Responsible Investment (UN-PRI).
The relevance and significance of AUM lie in its reflection of an insurance company’s scale and its ability to manage substantial investments on behalf of its policyholders. A larger AUM indicates a greater capacity to diversify investments, potentially enhancing returns and spreading risk. It also demonstrates the trust that policyholders place in the company’s ability to manage their long-term financial security.
HDFC Life’s growth in AUM has been supported by its diverse range of products offering protection and fulfillment of long term financial goals through savings and investment. These products are designed to meet the various life stage needs of individuals across India. Product innovation combined with customer focus and digital transformation have been pivotal in enabling HDFC Life to achieve this milestone. About HDFC Life
Established in 2000, HDFC Life Insurance Company Limited ('HDFC Life'/ ‘Company’) is a leading, listed, long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity, and Health. The Company has more than 80 products (including individual and group products) and optional riders in its portfolio, catering to a diverse range of customer needs.
HDFC Life was promoted by erstwhile Housing Development Finance Corporation Limited (HDFC Ltd.), and Abrdn (Mauritius Holdings) 2006 Limited (abrdn) (formerly Standard Life (Mauritius Holdings) 2006 Limited), a global investment company. Consequent to implementation of the Scheme of Amalgamation of HDFC Ltd. with HDFC Bank, India’s leading private sector bank (“Bank”), the Bank has become promoter of the Company, in place of HDFC Ltd, effective from July 1, 2023. Further, consequent to reclassification of abrdn from “Promoter” category to “Public” category in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, HDFC Bank has become sole promoter of the Company, effective December 12, 2023.The name/letter 'HDFC' in the name/logo of HDFC Life Insurance Company Limited (HDFC Life) belongs to HDFC Bank Limited.
HDFC Life has a nation-wide presence with its own branches and additional distribution touch-points through several tie-ups and partnerships. The count of distribution partnerships is over 300, comprising banks, NBFCs, MFIs, SFBs, brokers, and new ecosystem partners amongst others. The Company has a strong base of financial consultants.
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