It was being incorporated at Mumbai as of August 14, 2000, as HDFC Standard Life Insurance Company Limited, a public limited company under the Companies Act, 1956. It also obtained the certificate of commencement of business as of October 12, 2000. Further, it also received its certificate of registration from IRDAI to undertake the life insurance business dated October 23, 2000.
Also, the company name has not undergone any change since its incorporation.
Some of the Milestones:
- 2001: The first private life insurer to obtain registration from the IRDAI.
- 2003: It crossed 100,000 policies and 10,000 individual agents, and distribution tie-ups with HDFC Bank and the other banks.
- 2004: It launched the unit-linked funds and distribution tie-up with Saraswat Co-operative Bank Limited.
- 2007: It crossed the 500,000 policy milestone.
- 2010: Its AUM crossed INR 200,000 million.
- 2011: It also incorporated the Subsidiary, HDFC Pension as of June 20, 2011.
- 2012: It turned profitable and registered a profit of INR 2,710 million and the total premium for the year crossed INR 100,000 million.
- 2014: Its AUM crossed INR 500,000 million, and the dividend was declared for the first time in December 2013.
- Its total premium crossed the INR 160,000 million mark.
- Also the subsidiary, HDFC International was authorized by Dubai Financial Services Authority for carrying on financial services.
- Also, Standard Life Mauritius increased its stake from 26% to 35%.
- 2017: Its AUM crossed INR 900,000 million.
Some of the Achievements:
- 2017: It was India's Best Companies to Work for - India's Best Companies to Work for the study is conducted by The Economic Times & Great Place To Work® Institute.
- The ICAI Awards, the Gold Shield for Excellence in Financial Reporting for the Annual Report.
- It received Indian Insurance Awards for Best Product Innovation (Life Insurance) by Fintelekt.
- It received SAP ACE Awards - for the Technology Adoption in Banking, Financial Services and Insurance (or BFSI).
- It received the Finnoviti award to recognize and reward innovations in Banking, Financial Services and Insurance (or BFSI) received for Cancer Care, which is a first of its kind standalone cancer care product from a life insurer.
- Indian Insurance Awards: It won Life Insurance Company of the Year, awarded by Fintelekt.
- It received SM Financial Services Marketing Summit Awards - The Most Customer Responsive Insurance Company of the Year.
- It received QCI - D. L. Shah Quality Awards - Gold Award, for the case study Improvement in Persistency: A Win for ALL.
- It received Prime Time Awards - for the Best Creative Advertising - Single Ad or Campaign in the Banking, Financial Services and Insurance (or BFSI) segment.
- It received the Frost & Sullivan - Project Evaluation & Recognition Program for the project, “Creating a Culture of Continuous Improvement,” an insurance case study.
- 2014: Also, it received the PCQuest Best IT Implementation Award for Qlik Insights BI Development - Project with Maximum Business Impact.
- It won National Award for Excellence in Cost Management for a second consecutive year.
- It recognized by Celent as Model Insurer Asia of the Year.
- It won the Porter Prize for leveraging unique