MBA Summer Project on HDFC Standerd Life Insurance

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INTRODUCTION TO THE COMPANY

COMPANY PROFILE OF HDFC STANDARD LIFE INSURANCE COMPANY LTD

ABOUT HDFC STANDARD LIFE INSURANCE

HDFC Standard Life Insurance Company Ltd. is one of India's leading private

insurance companies, which offers a range of individual and group insurance

solutions. It is a joint venture between Housing Development Finance Corporation

Limited (HDFC Ltd.), India's leading housing finance institution and a Group

Company of the Standard Life, UK. HDFC as on December 31, 2007 holds 72.38 per

cent of equity in the joint venture.

HDFC STANDARD LIFE INSURANCE PARENTAGE

HDFC Limited.

HDFC is India leading housing finance institution and has helped build more

than   23, 00,000 houses since its incorporation in 1977.

In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The

depositor   base now stands at around 1 million depositors.

Rated AAA by CRISIL and ICRA for the 10th consecutive year

Stable and experienced management

High service standards

Awarded The Economic Times Corporate Citizen of the year Award for its

long-standing commitment to community development.

Presented the Dream Homeâ award for the best housing finance provider in

2004 at   the third Annual Outlook Money Awards.

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Standard Life Group (Standard Life plc and its subsidiaries)

Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life group has been looking after the financial needs of

customers for   over 180 years

It currently has a customer base of around 7 million people who rely on the

company   for their insurance, pension, investment, banking and health-care

needs

Its investment manager currently administers £125 billion in assets

It is a leading pensions provider in the UK, and is rated by Standard & Poor's

as   'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006

at the Money Marketing Awards, and it was voted a 5 star life and pensions

provider at    the Financial Adviser Service Awards for the last 10 years

running. The '5 Star'    accolade has also been awarded to Standard Life

Investments for the last 10 years,    and to Standard Life Bank since its

inception in 1998. Standard Life Bank was    awarded the 'Best Flexible

Mortgage Lender' at the Mortgage Magazine Awards in    2006

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HISTORY  

HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is a

joint venture between Housing Development Finance Corporation Limited (HDFC

Ltd.) India and UK based Standard Life Company. Both the joint venture partners

being one of the leaders in their respective areas came together in this 81.4:18.6 joint

Venture to form HDFC standard life insurance company limited.

The MD and CEO of HDFC Standard Life Mr. Deepak Satwalekar, has given the

company new directions and has helped the company achieve the status it currently

enjoys. HDFC Standard Life brings to you a whole range of insurance solutions be it

group or individual or NAV services for corporations, they can be easily customized

as per specific needs.

HDFC Standard Life Insurance India boasts of covering around 8.7 lakh lives by

March'2007. The gross incomes standing at a whopping Rs. 2, 856 crores, HDFC

Standard Life Insurance Corporation is sure to become one of the leaders and the first

Preference for any life insurance customer.

The Bancassurance partners of HDFC Standard Life Insurance Co Ltd are HDFC,

HDFC Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda,

Sarawat Bank and Bajaj Capital.

The premium payment options available to the customers vary from online payment

to direct desk payments at the HDFC Standard Life Branches, by courier services or

in drop boxes provided. You can also pay by ECS or Automatic Debit System or

credit cards or standing instruction mandate. HDFC Standard Life Insurance

Company is a customer oriented corporation and aim at complete customer

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satisfaction.

The lapsation and renewal policy of HDFC Standard Life are clearly defined on the

official website. Online renewal forms are also available. For any change in personal

details like the contact details or the nominee of the policy or policy benefits, online

servicing is also available. Even the claim procedure has been simplified since affect

of the loss life is irreparable and is thus fully understandable at HDFC Standard Life.

A completely hassle-free process has been formulated to provide maximum

convenience.

HDFC Standard Life first came together for a possible joint venture, to enter the Life

Insurance market, in January 1995. It was clear from the outset that both companies

shared similar values and beliefs and a strong relationship quickly formed. In October

1995 the companies signed a 3 year joint venture agreement.

Around this time Standard Life purchased a 5% stake in HDFC, further strengthening

the relationship.

The next three years were filled with uncertainty, due to changes in government and

ongoing delays in getting the IRDA (Insurance Regulatory and Development

authority) Act passed in parliament. Despite this both companies remained firmly

committed to the venture.

In October 1998, the joint venture agreement was renewed and additional resource

made available. Around this time Standard Life purchased 2% of Infrastructure

Development Finance Company Ltd. (IDFC). Standard Life also started to use the

services of the HDFC Treasury department to advise them upon their investments in

India.

Towards the end of 1999, the opening of the market looked very promising and both

companies agreed the time was right to move the operation to the next level.

Therefore, in January 2000 an expert team from the UK joined a hand picked team

from HDFC to form the core project team, based in Mumbai. 

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Around this time Standard Life purchased a further 5% stake in HDFC and a 5% stake

in HDFC Bank.

In a further development Standard Life agreed to participate in the Asset Management

Company promoted by HDFC to enter the mutual fund market. The Mutual Fund was

Launched on 20th july 2000.

Incorporation of HDFC Standard Life Insurance Company Limited:

The company was incorporated on 14th August 2000 under the name of HDFC

Standard life insurance company limited.

Their ambition from the beginning was to be the first private company to re-enter the

life insurance market in India. On the 23rd of October 2000, this ambition was

realised when HDFC Standard Life was the first life company to be granted a

certificate of registration.

HDFC are the main shareholders in HDFC Standard Life, with 81.4%, while Standard

Life owns 18.6%. Given Standard Life's existing investment in the HDFC Group, this

is the maximum investment allowed under current regulations.

HDFC and Standard Life have a long and close relationship built upon shared values

and trust. The ambition of HDFC Standard Life is to mirror the success of the parent

companies and be the yardstick by which all other insurance companies in India are

measured.

HDFC Standard Life Insurance Company Limited is one of India's leading private life

insurance companies offering a range of individual and group insurance solutions. It

is a joint venture between Housing Development Finance Corporation Limited

(HDFC Ltd), India's leading housing finance institution and Standard Life plc, the

leading providers of financial services in the United Kingdom.

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HDFC Ltd. as on December 31, 2007 holds 72.38 per cent of equity in the joint

venture. 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 21 retail and 6

group products in its portfolio.

HDFC Standard Life maintains very high professional standards during product

offerings by providing sound financial advice, efficient post-sale service, and

immaculate financial security. Ongoing training for conventional products, and

specialized training, for unit-linked products, for its financial consultants, has also

helped its customers choose the product, best suited for their needs.

HDFC Standard Life operates across more than 726 cities and towns of the country

supported by its strong network of more than 1,45,000 Financial Consultants. HDFC

Standard Life also has more than 383 corporate agents and other sales intermediaries

including banks for distribution of insurance products.

Awards and Accolades

May, 2008Received PCQuest Best IT Implementation Award 2008

HDFC Standard Life received the PCQuest Best IT Implementation Award 2008 for

Consultant Corner, the applications for its financial consultants, providing centralized

control over a vast geographical spread for key business units such as inventory,

training, licensing, etc. Read more about the ‘Consultant Corner’ tool in the ‘HDFC

SL in news’ section.

HDFC Standard Life has won the PCQuest Best IT Implementation Award for two

years consequently. Last year, the company received the award for Wonders, its path-

breaking implementation of an enterprise-wide workflow system.

March, 2008

Silver Abby at Goafest 2008

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HDFC Standard Life's radio spot for Pension Plans won a Silver Abby in the radio

writing craft category at the Goafest 2008 organised by the Advertising Agencies

Association of India (AAAI). The radio commercial ‘Pata nahin chala’ touched

several changes in life in the blink of an eye through an old man’s perspective. The

objective was drive awareness and ask people to invest in a pension plan to live life to

the fullest even after retirement, without compromising on one’s self-respect.

Laadli Media Award 2007

HDFC Standard Life received Laadli Media Award 2007 for its 'Big car' TV

commercial. It showed how a daughter wants to be more responsible towards her

family and asks her dad to upgrade to a bigger car by offering him the extra money

Required to buy the car.

HDFC Standard Life received this award for two years consecutively. In 2006, it won

for the 'Papa' TV commercial, which challenged the stereotype parents saving only for

their son's education or daughter's wedding. The company took a bold step by

showing parents saving for their daughter's education abroad, demonstrating

Progressive thinking.

Laadli Media Awards, instituted in 2007, by Population First, an NGO working on

women's rights and social development, is given to professionals in print and

electronic media and ad makers for gender sensitive news reports, articles, print, TV

ads, and films.

March, 2008

Unit Linked Savings Plan Tops Mint Best TV Ads Survey

The Unit Linked Savings Plan advertisement of HDFC Standard Life, one of the

leading private insurance companies in India, has topped Mint’s Top Television

Advertisement survey conducted, for February 2008. HDFC Standard Life’s Unit

Linked Savings Plan advertisement was ranked 4th in terms of a combined score of ad

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awareness and brand recall and 3rd in terms of ad diagnostic scores (likeability,

enjoyment, believability, and claim). The respondents were between 18 and 40 years.

Mint’s exclusive report, ‘New voices in a makeover’ outlines the survey in detail.

February, 2008

Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007

Mr Deepak M Satwalekar, Managing Director and CEO, HDFC Standard Life,

received the QIMPRO Gold Standard Award 2007 in the business category at the 18th

annual Qimpro Awards function. The award celebrates excellence in individual

performance and highlights the quality achievements of extraordinary individuals in

an era of global competition and expectations.

January, 2008

Sar Utha Ke Jiyo Among India’s 60 Glorious Advertising Moments

HDFC Standard Life’s advertising slogan honoured as one of ‘60 Glorious

Advertising & Marketing Moments' over the last 60 years in India,’ by 4Ps

Business and Marketing magazine. The magazine said that HDFC Standard Life is

one of the first private insurers to break the ice using the idea of self respect (Sar Utha

Ke Jiyo) instead of 'death' to convey its brand proposition. This was then, followed by

others including ICCI Prudential, thus giving HDFC Standard Life the credit of

bringing up one such glorious advertising and marketing moment in the last 60 years.

4th August 2008

HDFC Standard Life Launches Unit Linked Wealth Maximiser Plus

23rd July 2008

HDFC Standard Life Launches SimpliLife, a Unit Linked Plan in Simplest Way

14th May 2008

HDFC Standard Life Declares Results for FY2007-08; New Business Premium

Income grows by 63%

4th March 2008

HDFC Standard Life Expands its Reach with Inauguration of Mohali Branch

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21st October 2007 –

HDFC Standard Life Announces Muthoot Capital Services as its Corporate Agency

for Distribution of Life and Pension Products

7th May 2007

HDFC Standard Life expands its reach to smaller cities in Madhya Pradesh

15th February 2007

HDFC Standard Life expands it’s reach in Vidarbha

16th May 2006

HDFC Standard Life records impressive growth

7th February 2006

HDFC Standard Life records impressive growth

29th November 2005

HDFC Standard Life posts strong growth

16th August 2005

HDFC Standard Life grows faster than the private sector average

16th May 2005

HDFC Standard Life declares results for FY 2004-05

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RECRUITMENT PROCESS

The chief attributes HDFC SL looks out for in a candidate.

We look out for a candidate who values Integrity

Has a zeal for Excellence

Is focused on Results

Is Self driven and Enthusiastic

Is a good Learner and Team Player

Is dedicated to Customer Satisfaction

The Recruitment Process at HDFC SL

HDFC SL recruitment process are as follows:

Making an Application

Ensure the information is clear and well organized.

Demonstrate your skills/experience/responsibilities in the previous company

Assessment Process

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We conduct relevant assessments like psychometric tests and written exercises

- these will be part of the selection process

The interview panel will ask questions which will assess your knowledge,

skills and attitude. You will also have your queries addressed.

Conditions relating to offers of employment

All offers are subject to:

Satisfactory medical clearance

Satisfactory references

Evidence of qualifications and previous employment testimonials

FUTURE PLANS

HDFC Standard Life, plans IPO in '09

Mumbai, HDFC has booked a profit of around Rs 120 cr in a Rs 200 cr transaction

involving sale of 7.15% stake in HDFC Standard Life to its British partner. The

promoters of HDFC Standard Life have said also said that they will dilute stake

through an IPO before 2009.

New HDFC Standard Life policy

Mumbai, HDFC Standard Life has launched a new product called "Unit Linked

Wealth Maximiser Plus". This is a single premium investment cum protection plan,

with a minimum premium of Rs 1 lakh. The policyholder has the option to choose

from five fund options - Money Plus Fund, Bond Opportunities Fund, Large-cap

Fund, Mid-cap Fund, and Manager's Fund. HDFC Standard Life will offer regular

loyalty units of 0.10 per cent every year as long as the policy is not surrendered. The

accumulated value of the funds is received at the end of the policy term. In the event

of unfortunate demise of the policyholder during the policy tenure, HDFC Standard

Life will pay the greater of the Sum Assured (less all applicable withdrawals) and the

total fund value to the family members of the policyholder. The policy offers life

insurance cover until the age of 99 years

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FINANCIAL PERFORMANCE

HDFC Standard Life, one of the leading private life insurance companies in India

declared its annual results for the financial year ending March 31, 2008. The company

generated New Business Premium Income of Rs. 2,685 crores in FY2007-08

registering a year-on-year growth of 63%. The growth was primarily driven by the

success of the company's initiative on structured sales processes based on customer

needs and their assessments.

HDFC Standard Life, one of the leading private life insurance companies in India

declared its annual results for the financial year ending March 31, 2008. The company

generated New Business Premium Income of Rs. 2,685 crores in FY2007-08

registering a year-on-year growth of 63%. The growth was primarily driven by the

success of the company’s initiative on structured sales processes based on customer

needs and their assessments.

Mr. Deepak Satwalekar, MD & CEO, HDFC Standard Life attributed this growth to

the quality of life insurance solutions offered by the company and its increased

geographical reach. He also emphasised, “We believe that our success is a result of

our efforts in giving customers, the best long-term solutions to take care of their

insurance needs. Our endeavour to provide high quality insurance and pension

solutions to customers through quality pre-sales advice, based on a sound need-based

solutions approach, and post-sales service has started to pay off.”

Highlights of Financial Year 2007-08

New Business Premium Income up by 63% to Rs. 2,685 crores. Total

Premium Income is up by 70% at Rs. 4,859 crores as against Rs. 2,856 crores

in FY2006-07

Alternate Channels including bancassurance has recorded an impressive

growth of over 63% to contribute 41% to the Effective Premium Income (EPI)

Group business funds under management have increased to Rs. 959 crores,

registering a growth of 83% over FY2006-07

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The average premium has increased to Rs. 33,000

Company products and services are now available in 726 cities and towns

across the country

Strength of Financial Consultants has increased to 1,45,000.

HDFC Standard Life tracks its New Business Premium on the basis of Effective

Premium Income (EPI). EPI is calculated by giving only a 10% value to a Single

Premium policy and is an internationally accepted indicator of an insurance

company’s performance. The total premium income (including renewal premium)

grew by 70% to touch a figure of Rs. 4,859 crores. High levels of persistency have

resulted in higher level of renewal premiums. Although there has been a slight dip

from 89% to 86%, we continue to have the highest persistency level in the industry.

The cumulative sum assured for all policies issued upto March 31, 2008 crossed Rs.

87,000 crores.

In offering unit linked products, the structured sales process adopted by the company

has paid rich dividends. “We believe that we should be able to lengthen the maturity

profile of our policy portfolio, now that the regulatory disincentive has been removed

with effect from April 1, 2008,” added Mr. Satwalekar. HDFC Standard Life offers,

both, life insurance policies as well as pension products on a unit linked platform as

also the conventional ‘with profits’ platform.

Over 50% of the sum assured as on March 31, 2008, is in respect of non unit-linked

policies. Over 30% of funds under management are in respect of non-linked business,

which reflects the balanced book between conventional and unit-linked business in

the total portfolio of the company.

The company’s national relationships with large public and private sector banks have

also helped it reach out to a larger number of customers across the country. The

company plans to further strengthen these relationships through the introduction of

products specially designed for this channel.

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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 726 cities and towns. The company also increased its

depth in existing markets by increasing its Financial Consultant strength from 74,000

as on March 31, 2007 to 1,45,000 as on March 31, 2008. There has been a huge jump

of 300% over the last 3 years in the number of its Financial Consultants who have

qualified to become members of the prestigious Million Dollar Round Table (MDRT)

Club. The strength of MDRT qualified members has gone up to 496 as on December

31, 2007.

As against the regulatory requirement of writing 18% of all policies in rural areas,

HDFC Standard Life has issued over 217,000 policies accounting for 23% of all

policies issued during 2007-08. Additionally, during 2007-08, HDFC Standard Life

has covered 51,326 lives under the social sector category, as against the requirement

of 25,000 lives. Overall, the company has covered over 9,59,000 lives during the year

ending March 31, 2008.

To meet the demands arising from the company’s rapid growth, shareholders have

contributed additional Rs. 470 crores of equity to take the paid-up share capital as on

March 2008 to Rs. 1,271 crores.

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ADVERTISEMENT AND SALES PROMOTION

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Film opens in the compound of a house. Father is checking

something inside the bonnet of an old small car. His daughter,

around 27-28 years old, is working on a lap top next to him

Daughter: “Dad”. Father: “Bolo”Daughter: “Nayi car lene mein hee

bhalaai hai.”Dad nods in agreement without

looking up. Dad: “Hmmm…”

Daughter continues affirmatively as she signs on a cheque.

Daughter: “Aur wo bhi badi wali.”

Dad looks at her and asks.Dad: “Huh, Badi kyon?”

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Daughter, walks towards him with swinging hand in air and says.

Daughter: “Kyonki Toolika Sharma chahti hai uske dad style se travel

kare.”

Dad goes back to checking the engine and says in a light hearted

tone.Dad: “Aur Extra paise dad dega

kya?”Daughter replies firmly: “Nahi.

Mere dad ki beti.”

Daughter: “Relax dad, plan kiya.”Dad doesn’t know what to say:

“Par...”

And hands him the cheque. Dad looks at the cheque and

questions.Dad (seriously): “Itne paise aaye

kahaan se?”

Dad doesn’t know what to say as he looks at the cheque.

Daughter pleads: “Please…dad”

Mother enters with tea. She senses something serious and

questions them.Mother: “Aree Kya hua?”

BOARD MEMBERS

Brief profile of the Board of Directors

Mr. Deepak S Parekh is the Chairman of the Company. He is also the

Executive Chairman of Housing Development Finance Corporation Limited

(HDFC Limited). He joined HDFC Limited in a senior management position

in 1978. He was inducted as a whole-time director of HDFC Limited in 1985

and was appointed as its Executive Chairman in 1993. He is the Chief

Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of

Chartered Accountants (England & Wales).

Mr. Keki M Mistry joined the Board of Directors of the Company in

December, 2000. He is currently the Managing Director of HDFC Limited. He

joined HDFC Limited in 1981 and became an Executive Director in 1993. He

was appointed as its Managing Director in November, 2000. Mr. Mistry is a

Fellow of the Institute of Chartered Accountants of India and a member of the

Michigan Association of Certified Public Accountants.

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Father looks at her and says emotionally.

Dad: “Car badi ho gayi, aur beti bhi.”

Daughter smiles with pride.

Super: Unit Linked Savings PlansMVO: “Unit Linked Savings Plans

from HDFC Standard Life. zimmedari nibhao, Aaj bhi kal bhi ”

Father daughter are sitting.MVO: “Sar Utha Ke Jiyo.”

Mr. Alexander M Crombie joined the Board of Directors of the Company in

April, 2002. He has been with the Standard Life Group for 34 years holding

various senior management positions. He was appointed as the Group Chief

Executive of the Standard Life Group in March 2004. Mr. Crombie is a fellow

of the Faculty of Actuaries in Scotland.

Ms. Marcia D Campbell is currently the Group Operations Director in the

Standard Life group and is responsible for Group Operations, Asia Pacific

Development, Strategy & Planning, Corporate Responsibility and Shared

Services Centre. Ms. Campbell joined the Board of Directors in November

2005.

Mr. Keith N Skeoch is currently the Chief Executive in Standard Life

Investments Limited and is responsible for overseeing Investment Process &

Chief Executive Officer Function. Prior to this, Mr. Skeoch was working with

M/s. James Capel & Co. holding the positions of UK Economist, Chief

Economist, Executive Director, Director of Controls and Strategy HSBS

Securities and Managing Director International Equities. He was also

responsible for Economic and Investment Strategy research produced on a

worldwide basis. Mr. Skeoch joined the Board of Directors in November

2005.

Mr. Gautam R Divan is a practising Chartered Accountant and is a Fellow of

the Institute of Chartered Accountants of India. Mr. Divan was the Former

Chairman and Managing Committee Member of Midsnell Group International,

an International Association of Independent Accounting Firms and has

authored several papers of professional interest. Mr. Divan has wide

experience in auditing accounts of large public limited companies and

nationalised banks, financial and taxation planning of individuals and limited

companies and also has substantial experience in structuring overseas

investments to and from India.

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards

on Strategy and Change Management. Mr. Pant, until 2002 was a Partner &

Vice-President at Bain & Company, Inc., Boston, where he led the worldwide

Utility Practice. He was also Director, Corporate Business Development at

General Electric headquarters in Fairfield, USA. Mr. Pant has an MBA from

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The Wharton School and BE (Honours) from Birla Institute of Technology

and Sciences.

Mr. Ravi Narain is the Managing Director & CEO of National Stock

Exchange of India Limited. Mr. Ravi Narain was a member of the core team to

set-up the Securities & Exchange Board of India (SEBI) and is also associated

with various committees of SEBI and the Reserve Bank of India (RBI).

Mr. Deepak M Satwalekar is the Managing Director and CEO of the

Company since November, 2000. Prior to this, he was the Managing Director

of HDFC Limited since 1993. Mr. Satwalekar obtained a Bachelors Degree in

Technology from the Indian Institute of Technology, Bombay and a Masters

Degree in Business Administration from The American University,

Washington DC.

Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a

graduate in law and holds a Master's degree in economics from Delhi

University. She has been employed with HDFC Limited since 1978 and was

appointed as the Executive Director in 2000. She is responsible for overseeing

all aspects of lending operations of HDFC Limited.

AREAS OF OPERATION

Helping Indians experience the joy of home ownership. The road to success is a tough

and challenging journey in the dark where only obstacles light the path. However,

success on a terrain like this is not without a solution. As we found out nearly three

decades ago, in 1977, the solution for success is customer satisfaction. All you need is

the courage to innovate, the skill to understand your clientele and the desire to give

them your best. Today, nearly three million satisfied customers whose dream we

helped realise, stand testimony to our success. Our objective, from the beginning, has

been to enhance residential housing stock and promote home ownership. Now, our

offerings range from hassle-free home loans and deposit products, to property related

services and a training facility. We also offer specialized financial services to our

customer base through partnerships with some of the best financial institutions

worldwide.

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The Housing Development Finance Corporation Limited (HDFC) was amongst the

first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set

up a bank in the private sector, as part of the RBI's liberalisation of the Indian

Banking Industry in 1994. The bank was incorporated in August 1994 in the name of

'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank

commenced operations as a Scheduled Commercial Bank in January 1995.

HDFC Mutual Fund has been one of the best performing mutual funds in the last few

years. HDFC Asset Management Company Limited (AMC) functions as an Asset

Management company for the HDFC mutual fund.

AMC is a joint venture between housing finance giant HDFC and British investment

firm Standard Life Investments Limited. It conducts the operations of the Mutual

Fund and manages assets of the schemes, including the schemes launched from time

to time. As of Aug 2006, the fund has assets of Rs.25,892 crores under management.

IN 2003, following a decision by the Zurich Insurance Company (ZIC), the Sponsor

of Zurich India Mutual Fund, to divest its asset management business in India, AMC

had entered into an agreement with ZIC to acquire the asset management business.

Consequently, all the schemes of Zurich Mutual Fund in India had been transferred to

HDFC mutual fund and renamed as HDFC schemes.

Here is a list of mutual funds of HDFC which includes Equity Funds, Balanced Funds

and Debt Funds.

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HDFC Securities, a trusted financial service provider promoted by HDFC Bank and

JP Morgan Partners and their associates, is a leading stock broking company in the

country, serving a diverse customer base of institutional and retail investors.

HDFCsec.com provides investors a robust platform to trade in Equities in NSE and

BSE , and derivatives in NSE. Our website will support you with the highest

standards of service, convenience and hassle-free trading tools.

Our research team tracks the economy, industries and companies to provide you the

latest information and analysis. Our content offers financial information, analysis,

investment guidance, news & views, and is designed to meet the requirements of

everyone from a beginner to a savvy and well-informed trader.

HDFC Realty is a wholly owned subsidiary of HDFC. We have assisted

individuals in acquiring homes valued at 5000 million rupees.

HDFC is a pioneer housing finance institution in India and with over 30 years

in operations has provided finance to over a million families in India.

We are a team of real estate professionals facilitating Buying, Selling or

Leasing of Residential / Commercial property.

At HDFC Realty, we provide personalized attention to the individuals and

corporates in their process of identifying properties. From understanding the

requirement to organizing the site visits to completion of transaction, we make

every effort to make the process of acquiring a property, hassle free and

convenient.

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MARKET SHARE

HDFC Limited.

HDFC is India’s leading housing finance institution and has helped build more

than   23,00,000 houses since its incorporation in 1977.

In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The

depositor   base now stands at around 1 million depositors.

Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year

Stable and experienced management

High service standards

Awarded The Economic Times Corporate Citizen of the year Award for its

long-standing commitment to community development.

Presented the ‘Dream Home’ award for the best housing finance provider in

2004 at   the third Annual Outlook Money Awards.

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Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life group has been looking after the financial needs of

customers for   over 180 years

It currently has a customer base of around 7 million people who rely on the

company   for their insurance, pension, investment, banking and health-care

needs

Its investment manager currently administers £125 billion in assets

It is a leading pensions provider in the UK, and is rated by Standard & Poor's

as   'strong' with a rating of A+ and as 'good' with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006

at    the Money Marketing Awards, and it was voted a 5 star life and pensions

provider at    the Financial Adviser Service Awards for the last 10 years

running . The '5 Star'    accolade has also been awarded to Standard Life

Investments for the last 10 years,    and to Standard Life Bank since its

inception in 1998. Standard Life Bank was    awarded the 'Best Flexible

Mortgage Lender' at the Mortgage Magazine Awards in    2006

OBJECTIVE

Focus on the productivity of each consultant, corporate or individual,

while stressing on the quality of proposals

Quick roll out of Products

Efficiency of Operations

Meet Social & Rural sector obligations

OUR VISION

'The most successful and admired life insurance company, which means that we are

the most trusted company, the easiest to deal with, offer the best value for money, and

set the standards in the industry’.

'The most obvious choice for all'.

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OUR VALUES

Values that we observe while we work:

Integrity

Innovation

Customer centric

People Care One for all and all for ones€ � Teamwork

Joy and Simplicity

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MAJOR COMPETITORS MAJOR COMPETITORS OF HDFC STANDARD LIFEOF HDFC STANDARD LIFE

Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) was established on 1 September 1956 to

spread the message of life insurance in the country and mobilise people’s savings for

nation-building activities. LIC with its central office in Mumbai and seven zonal

offices at Mumbai, Calcutta, Delhi, Chennai, Hyderabad, Kanpur and Bhopal,

operates through 100 divisional offices in important cities and 2,048 branch offices.

LIC has 5.59 lakh active agents spread over the country.

The Corporation also transacts business abroad and has offices in Fiji, Mauritius and

United Kingdom. LIC is associated with joint ventures abroad in the field of

insurance, namely, Ken-India Assurance Company Limited, Nairobi; United Oriental

Assurance Company Limited, Kuala Lumpur; and Life Insurance Corporation

(International), E.C. Bahrain. It has also entered into an agreement with the Sun Life

(UK) for marketing unit linked life insurance and pension policies in U.K.

In 1995-96, LIC had a total income from premium and investments of $ 5 Billion

while GIC recorded a net premium of $ 1.3 Billion. During the last 15 years, LIC's

income grew at a healthy average of 10 per cent as against the industry's 6.7 per cent

growth in the rest of Asia (3.4 per cent in Europe, 1.4 per cent in the US).

LIC has even provided insurance cover to five million people living below the

poverty line, with 50 per cent subsidy in the premium rates. LIC's claims settlement

ratio at 95 per cent and GIC's at 74 per cent are higher than that of global average of

40 per cent. Compounded annual growth rate for Life insurance business has been

19.22 per cent per annum

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General Insurance Corporation of India (GIC)

The general insurance industry in India was nationalized and a government company

known as General Insurance Corporation of India (GIC) was formed by the Central

Government in November 1972. With effect from 1 January 1973 the erstwhile 107

Indian and foreign insurers which were operating in the country prior to

nationalization, were grouped into four operating companies, namely, (i) National

Insurance Company Limited; (ii) New India Assurance Company Limited; (iii)

Oriental Insurance Company Limited; and (iv) United India Insurance Company

Limited.  (However, with effect from Dec'2000, these subsidiaries have been de-

linked from the parent company and made as independent insurance companies). All

the above four subsidiaries of GIC operate all over the country competing with one

another and underwriting various classes of general insurance business except for

aviation insurance of national airlines and crop insurance which is handled by the

GIC.

Besides the domestic market, the industry is presently operating in 17 countries

directly through branches or agencies and in 14 countries through subsidiary and

associate companies.

LIFE INSURANCE COMPANIES

Max New York Life Insurance Co. Ltd.

Max New York Life Insurance Company Limited is a joint venture that brings

together two large forces - Max India Limited, a multi-business corporate, together

with New York Life International, a global expert in life insurance. With their various

Products and Riders, there are more than 400 product combinations to choose from.

They have a national presence with a network of 57 offices in 37 cities across India.

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ICICI Prudential Life Insurance Company Ltd.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a

premier financial powerhouse and prudential plc, a leading international financial

services group headquartered in the United Kingdom. ICICI Prudential was amongst

the first private sector insurance companies to begin operations in December 2000

after receiving approval from Insurance Regulatory Development Authority (IRDA).

The company has a network of about 56,000 advisors; as well as 7 banc assurance and

150 corporate agent tie-ups.

Om Kotak Mahindra Life Insurance Co. Ltd.

Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak

Mahindra Bank Ltd. (KMBL), and Old Mutual plc.

Birla Sun Life Insurance Company Ltd.

Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and

Sun Life financial Services of Canada.

Tata AIG Life Insurance Company Ltd.

SBI Life Insurance Company Limited

ING Vysya Life Insurance Company Private Limited

Allianz Bajaj Life Insurance Company Ltd.

Metlife India Insurance Company Pvt. Ltd.

AMP SANMAR Assurance Company Ltd.

Dabur CGU Life Insurance Company Pvt. Ltd.

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GENERAL INSURANCE

1. Royal Sundaram Alliance Insurance Company Limited 

The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram

Finance Limited started its operations from March 2001. The company is Head

Quartered at Chennai, and has two Regional Offices, one at Mumbai and another one

at New Delhi.

2. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj

Auto Limited and Allianz AG of Germany. Both enjoy a reputation of expertise,

stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and Development

Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct

General Insurance business (including Health Insurance business) in India. The

Company has an authorized and paid up capital of Rs 110 crores. Bajaj Auto holds

74% and the remaining 26% is held by Allianz, AG, Germany.

3. ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited is a joint venture between ICICI

Bank Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited.

ICICI Bank is India's second largest bank, while Fairfax Financial Holdings is a

diversified financial corporate engaged in general insurance, reinsurance, insurance

claims management and investment management.

Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one

of Canada's oldest property and casualty insurers. ICICI Lombard General Insurance

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Company received regulatory approvals to commence general insurance business in

August 2001.

4. Cholamandalam General Insurance Company Ltd.

Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint

venture of the Murugappa Group & Mitsui Sumitomo. 

Chola-MS commenced operations in October 2002 and has issued more than 1.4 lakh

policies in its first calendar year of operations. The company has a pan-Indian

presence with offices in Chennai, Hyderabad, Bangalore, Kochi, Coimbatore,

Mumbai, Pune, Indore, Ahmedabad, Delhi, Chandigarh, Kolkata and Vizag.

5. TATA AIG General Insurance Company Ltd.

Tata AIG General Insurance Company Ltd. is a joint venture company, formed from

the Tata Group and American International Group, Inc. (AIG). Tata AIG combines

the strength and integrity of the Tata Group with AIG's international expertise and

financial strength. The Tata Group holds 74 per cent stake in the two insurance

ventures while AIG holds the balance 26 per cent stake.

Tata AIG General Insurance Company, which started its operations in India on

January 22, 2001, offers the complete range of insurance for automobile, home,

personal accident, travel, energy, marine, property and casualty, as well as several

specialized financial lines.

6. Reliance General Insurance Company Limited.

7. IFFCO Tokio General Insurance Co. Ltd

8. Export Credit Guarantee Corporation Ltd.

9. HDFC-Chubb General Insurance Co. Ltd.

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STRENGHS

Financial Expertise

As a joint venture of leading financial services groups, hdfc standard life has the

financial expertise required to manage your long-term investments safely and

efficiently.

Range of Solutions

We have a range of individual and group solutions, which can be easily customised to

specific needs. Our group solutions have been designed to offer you complete

flexibility combined with a low charging structure.

Track Record so far

Our gross premium income, for the year ending March 31, 2008 stood at Rs. 4,859

crores and new business premium income stood at Rs. 2,685 crores.

The company has covered over 9,59,000 lives year ending March 31, 2008.

Products of HDFC standard life insurance

Indivisual

Group

Social

Individual Products

We at HDFC Standard Life realize that not everyone has the same kind of needs.

Keeping this in mind, we have a varied range of Products that you can choose from to

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suit all your needs. These will help secure your future as well as the future of your

family.

Protection Plans

You can protect your family against the loss of your income or the burden of a loan in

the event of your unfortunate demise, disability or sickness. These plans offer

valuable peace of mind at a small price.

Our Protection range includes our Term Assurance Plan & Loan Cover Term

Assurance Plan.

Investment Plans

Our Single Premium Whole Of Life plan is well suited to meet your long term

investment needs. We provide you with attractive long term returns through regular

bonuses.

Pension Plans

Our Pension Plans help you secure your financial independence even after retirement.

Our Pension range includes our Personal Pension Plan, Unit Linked Pension, Unit

Linked Pension Plus

Savings Plans

Our Savings Plans offer you flexible options to build savings for your future needs

such as buying a dream home or fulfilling your children immediate and future needs.

Our Savings range includes Endowment Assurance Plan, Unit Linked Endowment,

Unit Linked Endowment Plus, Unit Linked Endowment Plus II, Money Back,

Unit Linked Enhanced Life Protection II, Children's Plan, Unit Linked Young Star,

Unit Linked Young Star Plus, Unit Linked Young Star Plus II.

Group Products

One-stop shop for employee-benefit solutions

HDFC Standard Life has the most comprehensive list of products for progressive

employers who wish to provide the best and most innovative employee benefit

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solutions to their employees. We offer different products for different needs of

employers ranging from term insurance plans for pure protection to voluntary plans

such as superannuation and leave encashment.

We now offer the following group products to our esteemed corporate clients:

Group Term Insurance

Group Variable Term Insurance

Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage corpuses with

Gratuity, Defined Benefit or Defined Contribution Superannuation or Leave

Encashment schemes of your company

Also suitable for other employee benefit schemes such as salary saving schemes and

wealth management schemes

Social Product

Development insurance plan

Development Insurance plan is an insurance plan which provides life cover to

members of a Development Agency for a term of one year. On the death of any

member of the group insured during the year of cover, a lump sum is paid to those

member beneficiaries to help meet some of the immediate financial needs following

their loss.

Eligibility

Members of the development agency and their spouses with:

Minimum age at the start of the policy 18 years last birthday

Maximum age at the start of policy 50 years last birthday

Employees of the Development Agency are not eligible to join the group. The group

to be covered is only eligible if it contains more than 500 members.

Premium Payments

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The premium to be paid will be quoted per member in the group and will be the same

for all members of the group.

The premium can only be paid by the Development Agency as a single lump sum that

includes all premiums for the group to be covered. Cover will not start until the

premium and all the member information in our specified format has been received

The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per member.

Benefits

On the death of each member covered by the policy during the year of cover a lump

sum equal to the sum assured will be paid to their beneficiaries or legal heirs. Where

the death is as a result of an accident, an additional lump sum will be paid equal to

half the sum assured. There are no benefits paid at the end of the year of cover and

there is no surrender value available at any time.

The role of the Development Agency

Due to the nature of the groups covered, HDFC Standard Life will be passing certain

administrative tasks onto the Development Agency. By passing on these tasks the

premium charged can be lower. These tasks would include:

Submission of member data in a specified computer format

Collection of premiums from group members

Recording changes in the details of group members

Disbursement of claim payments and the mortality rebate (if any) to group

members.

These tasks would be in addition to the usual duties of a policyholder such as:

Payment of premiums

Reporting of claims

Keeping policy holder information up to date

Training and support will be available to give guidance on how to complete

the tasks appropriately.

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Since these additional tasks will impose a burden on the Development Agency, the

Development Agency may charge a Rs. 10 administration fee to their members.

Prohibition of rebates

Section 41 of the Insurance Act, 1938 states

No person shall allow or offer to allow, either directly or indirectly, as an inducement

to any person to take out or renew or continue an insurance in respect of any kind of

risk relating to lives or property in India, any rebate of the whole or part of the

commission payable or any rebate of the premium shown on the policy, nor shall any

person taking out or renewing or continuing a policy accept any rebate, except such

rebate as may be allowed in accordance with the published prospectus or tables of the

insurer

If any person fails to comply with sub regulation (previous point) above, he shall be

liable to payment of a fine which may extend to rupees five hundred

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