HDFC Standard Life's Total Assets Under Management Crosses Rs. 10,000 crore Mark
HDFC Standard Life, one of India's leading private life insurance companies, has announced that its total assets under management have crossed Rs. 10,000 crore mark. This milestone reflects the company's strong investment philosophy and fund management capability. Out of the total assets under management of Rs. 10,000 crore, over 55% of assets are under equity.
-- Commenting on this achievement, Mr. Deepak Satwalekar, MD and CEO, HDFC Standard Life, said, “As a life insurance company, we understand that customers have invested their savings with us for the long term, with specific objectives in mind. Thus, our investment focus is based on the primary objective of protecting and generating good, consistent, and stable investment returns to match the investor’s long-term objective and return expectations. We follow an investment process based on the fundamental evaluation of each individual security. This milestone clearly reflects the faith entrusted by our customers on our robust foundation of investment process.”
HDFC Standard Life has a mature investment making decision process and has invested across various asset classes and categories. The Investment Committee of HDFC Standard Life plays a pivotal role in defining long-term investment policies, strategic asset allocation and monitoring the investment team performance on a continuous basis.
Notes to Editor
About HDFC Standard Life: HDFC Standard Life is one of India’s leading private life insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.
HDFC Standard Life’s Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, and Investment. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 19 retail and 6 group products in its portfolio, along with five optional rider benefits catering to the savings, investment, protection and retirement needs of customers.
HDFC Standard Life continues to have one of the widest reaches among new insurance companies. The company strengthened its number of offices from 103 to 572 across the country in less than 3 years. Through these offices, the company today services customer needs in over 730 cities and towns. The company also increased its depth in existing markets by increasing the strength of its Financial Consultants from 74,000 as on March 31, 2007 to 1,44,000 as on March 31, 2008.