• Banking / Finance

HDFC Life wins the coveted Platinum at the LACP Vision Awards FY 22/23 for its Integrated Report

• nationalherald
• March 12, 2024

by Prashant Kapadia/NHN 

Mumbai, March 12, 2024: HDFC Life, one of India’s leading life insurers, has once again won the coveted Platinum at the LACP Vision Awards FY 22/23 for its Integrated Report. The report ranked 47th amongst the Top 100 Reports Worldwide as adjudicated by LACP.

The Company also won a Gold and featured in the Top 100 Reports Worldwide in the Annual Report category. The report was also conferred the Technical Achievement Award for overall excellence in the art and method of integrated report communications for the past fiscal year.

The LACP Vision Awards, conferred by the League of American Communications Professionals LLC, is one of the most popular competing platforms for annual reports. This is the fifth consecutive Platinum and the fifth Gold that HDFC Life has won over the last nine years at the LACP Awards.

Speaking on this recognition, Niraj Shah – Executive Director & Chief Financial Officer, HDFC Life said “We are truly humbled to announce that we have, once again, won the prestigious Platinum in Integrated Reports and Gold in the Annual Reports categories at the LACP Vision Awards. This is a testament to HDFC Life’s commitment in pursuit of excellence and transparency in financial reporting. We value the trust all our stakeholders have reposed in us and will endeavour to deliver the best to them, always.”

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 60 products (including individual and group products) and optional riders in its portfolio, catering to a diverse range of customer needs.

In FY 2023, HDFC Life, known for its innovative products and customer-centric approach, has secured more than 68 million lives with an overall claim settlement ratio of 99.7%.

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.