Company Overview of HDFC Standard Life Insurance Co., Ltd.
HDFC Standard Life Insurance Company Limited offers a range of individual and group insurance solutions in India. It provides various insurance plans, including protection, savings and investment planning, health, group, child insurance and child education, women’s, ULIPs, and term insurance plans, as well as pension plans for retirement planning and rural policies. HDFC Standard Life Insurance Company Limited serves its customers through a distribution network of approximately 450 branches covering 961 cities, as well as 95,000 financial consultants, 3 bancassurance partners, and 10 pan-India brokers and corporate agency tie-ups. The company was founded in 2000 and is based in Mumbai, India...
12th and 13th Floors
Apollo Mills Compound
NM Joshi Marg, Mahalaxmi
Founded in 2000
Key Executives for HDFC Standard Life Insurance Co., Ltd.
Chief Operating Officer and Member of Policyholders Protection Committee
Chief Executive of Europe & Asia
Chief Human Resource Officer and Senior Executive Vice President
Compensation as of Fiscal Year 2014.
HDFC Standard Life Insurance Co., Ltd. Key Developments
Standard Life To Reportedly Increase Its Stake In HDFC Standard Life
Jul 29 14
Housing Development Finance Corporation Limited (BSE:500010) has begun negotiations to sell a part of its stake to Standard Life plc (LSE:SL.) in HDFC Standard Life Insurance Co., Ltd., moving lock-in-step with the government's moves to increase the foreign investment limits in the sector, reported Economic Times citing two people familiar with the matter. The people said that initial discussions are centered on an outcome that could see Housing Development Finance Corporation Limited, which owns a 72.37% stake in HDFC Standard Life, pocket around INR 45 billion - INR 50 billion from a sale-cumflotation exercise that will also allow the foreign partner to increase its ownership in the life insurance venture. One of the two peole said, "The two sides have already held one round of discussions and a second round is scheduled in London. A high-level team led by (HDFC vice-chairman) Keki Mistry will meet the senior management of Standard Life to decide the broad contours of the deal." The second source said that the initial discussions involved Standard Life increasing its holding in HDFC Standard Life to about 35% - 36% from 26% now. The first source said that Housing Development Finance was expecting an equity value of around INR 25 billion for the venture, assuming an embedded value - a key valuation metric for insurance firms that takes into account the number of policyholders and the premium it earned from them - of about INR 7 billion and a multiple of three and a half times that. The sources also said that a final valuation will be based on the recommendations of valuers that will be appointed by both parties and the talks will also acquire greater momentum immediately after Parliament approves the long pending Insurance Laws (Amendment) Bill that will allow foreign firms to own up to 49% of an Indian insurance company, up from 26% now. Representatives of Standard Life and Housing Development Finance declined to specifically comment on the likelihood of an impending transaction, which, if agreed soon, could be the precursor to many similar deals in the sector where foreign firms have been long waiting to increase their holdings in their Indian joint ventures. Steven Harley, Senior Media Manager at Standard Life, in response to queries from Economic Times said, "As we are awaiting clarity on the details of the proposal we are not in a position to offer any in-depth comment at this stage. We note with interest the recent development and look forward to the detail emerging, at which time we will consider our position and discuss the matter with our joint venture partners." A spokesperson for Housing Development Finance Corporation said, "We would like to state that there has been no action on this front."
HDFC Standard Life Mulls Listing
Jul 24 14
HDFC Standard Life Insurance Co., Ltd. intends to get listed on the stock exchange. HDFC Standard Life Insurance Co., Ltd. said that its shareholders have expressed interest in the company being listed on the exchanges. "The actual process might take about 3-6 months even as we look for some more clarity on the extant guidelines on Indian promoters," Amitabh Chaudhry, Managing Director and Chief Executive Officer of HDFC Standard Life, told Financial Express.
HDFC Standard Life Insurance Co., Ltd. Presents at 5th Asia Islamic Banking Conference, Aug-12-2014
Jun 20 14
HDFC Standard Life Insurance Co., Ltd. Presents at 5th Asia Islamic Banking Conference, Aug-12-2014 . Venue: The Royale Chulan Hotel Kuala Lumpu, Malaysia.
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