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HDFC Standard Life Insurance & Career Plan: HDFC Standard Life Insurance company is a leading organization in India. As a leading insurer, it always needs a huge working force to spread its work all around the world. Every year HDFC recruit many employees in a various department. So, to get selected in the organization you must know some detailed information about the company. So, to help you with it, We have updated the following article which will surely update about all the information about the Company and career plan that you can pursue.
HDFC Standard Life Insurance & Career Plan
HDFC Standard Life Insurance is also known as HDFC Life. It is one of leading private life insurers in India. It works in both group and individual insurance products and solutions. There is a joint venture of Standard Life PLC and Housing Development Finance Corporation Limited (HDFC). HDFC is the top Indian company in housing finance and Standard Life is a well known financial services company.
Total 72.37 percent of the insurer shares are owned by HDFC Ltd and Standard Life (Mauritius Holding) Ltd holds about 26 percent of the shares. The remaining of equity is owned by others.
The Sub companies of HDFC Life are as follows:
- HDFC Limited
- HDFC Bank
- HDFC Mutual Fund
- HDFC Sales
- HDFC ERGO General Insurance
- HDB Financial Services
- HDFC Securities
- HDFC Trustee Company Ltd.
- HDFC Investments Ltd.
- GRUH Finance Ltd.
- HDFC Holdings Ltd.
- HDFC Developers Ltd.
- Credit Information Bureau (India) Ltd
- HDFC Property Ventures Ltd.
- HDFC Securities
- HDFC Ventures Trustee Company Ltd.
- HDB Financial Services
Besides HDFC Bank, the assurance partners of HDFC Life are Indian Bank and Saraswat Bank.
Awards Achieved by HDFC Standard Life Insurance
List of awards achieved by HDFC Life in 2012 are as follows:
| Award | Provider/Award Ceremony |
| CFO 100 Roll of Honour | |
| Silver Award for Excellence in Life Insurance | My FM Star of the Industry Awards Excellence in Life Insurance |
| Gold Category Award | Century International Quality ERA Award |
| Winner for Customer and Brand Loyalty in “Insurance Sector-Life” | 5th Loyalty Awards 2012 – Insurance Sector (Life) |
| Model Insurer 2012 | Celent Model Insurer Global Award |
| Life Insurer of the Year Award | Bloomberg UTV Financial Leadership Awards |
| Best Product Innovation Award | Indian Insurance Award 2012 |
| BestPrax Benchmark 2012 Award | BestPrax Benchmark |
| One of the top 50 “Best Companies to Work” | Great Places to Work Institute, and Economic Times |
| Business Superbrand India 2010-11 | Business Superbrands Council |
Management Board of HDFC Standard Life Insurance
The following officials make up the board of HDFC Life:
| Name | Designation |
| Deepak S Parekh | Chairman of HDFC Life, and Chairman and Director of HDFC Limited |
| Renu S Karnad | Managing Director of HDFC Limited |
| Nathan Parnaby | Chief Executive, Europe & Asia, Standard Life |
| Gautam R Divan | |
| Ravi Narain | Managing Director and CEO of National Stock Exchange Limited |
| SA Dave | Chairman of Center for Monitoring Indian Economy |
| Micheal G Connarty | Alternate Director, Standard Life |
| Vibha Padalkar | Executive Director and Chief Financial Officer of HDFC Life |
| Keki M Mistry | Vice Chairman and Chief Executive Officer of HDFC Limited |
| David Nish | Chief Executive, Standard Life PLC |
| Norman Skeoch | Chief Executive, Standard Life Investments |
| Ranjan Pant | |
| AKT Chari | Director |
| Gerald E Grimstone | Chairman, Standard Life |
| Amitabh Chaudhry | MD and CEO, HDFC Life |
The other management team of the HDFC life is as follow:
| Name | Designation |
| Anup Rau | Senior Executive Vice President |
| Sanjay Tripathy | Executive Vice President |
| Srinivasan Parthasarathy | Chief Actuary and Appointed Actuary |
| Subrat Mohanty | Senior Vice President |
| Prasun Gajri | Chief Investment Officer |
| Sanjeev Kapur | Executive Vice President |
| Rajendra Ghag | Executive Vice President |
HDFC Standard Life Insurance Financial Details
Some important financial details of HDFC Life are as follows:
| Domain | Figure in INR Thousands |
| Income from gross interest, rent, and dividend | Rs. 120,128/- |
| Profit on redemption and sale of investments | Rs. 14,489/- |
| Other income | Rs. 1/- |
| Expenses not directly linked to the insurance business | Rs. 15,187/- |
| Contribution to policyholders’ fund | Rs. 28,479/- |
| Profit/(loss) before taxation | Rs. 90,375/- |
| Provision for taxation | Rs. 5,222/- |
| Profit/(loss) after taxation | Rs 85,153/- |
HDFC Standard Life Insurance Products
HDFC Life offer various other products too. They can be categorized into term plans, savings and investment plans, children’s plans, health plans etc. They further categories are as follows:
Term Plans
- HDFC Click 2 Protect
- Loan Cover Term Assurance Plan
- Term Assurance Plan
- Home Loan Protection Plan
- Premium Guarantee Plan
Children’s Plans
- HDFC Children’s Plan
- HDFC SL YoungStar Super Premium
- HDFC SL YoungStar Super II
Women’s Plans
- HDFC Life Smart Woman Plan
Savings and Investment Plans
- HDFC Life Sampoorn Samridhi Insurance Plan
- SL New Money Back Plan
- Endowment Assurance Plan
- Single Premium Whole of Life Insurance Plan
- SL Crest
- Assurance Plan
- SL ProGrowth Super II
- Savings Assurance Plan
- SL ProGrowth Flexi
- Endowment Gain Insurance Plan
- Life ProGrowth Plus
- ClassicAssure Insurance Plan
- SL ProGrowth Maximiser
- Immediate Annuity
- Life Invest Wise Plan
Health Plans
- HDFC SurgiCare Plan
- Critical Care Plan
Group Plans
- Group Term Insurance Plan
- Leave Encashment Solution
- Variable Term Insurance Plan
- SL Group Savings Plan
- Group Gratuity Solutions
- SL Group Traditional Plan
News about HDFC Standard Life Insurance
HDFC Life on September 2017 appointed Vibha Padalkar as a chief financial officer as its executive director. She joined the organization in 2008 as a chief financial officer.
Amitabh Chaudhry, the Managing Director, and Chief Executive has informed the media that Padalkar has played a crucial role in helping the insurer achieve some important milestones in an organization. She has also been involved in setting up a risk management system for the entire organization. He also stated that Padalkar has played a vital role to make certain tax changes that can manage their cost ratios and make an impact on the industry on the whole.
HDFC Standard Life Insurance Office Network
HDFC Life has currently 500 branches in different parts of India and operates in more 900 towns and cities across the country. HDFC also has a liaison office at Dubai. It also has a credible network of financial consultants who have helped it create a strong presence in the present fiscal markets.
We hope that our article about HDFC Standard Life Insurance & Career Plan will surely help.
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