HDFC Life becomes a signatory of the United Nations – Principles of responsible investment supported

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Mumbai, Maharashtra, India (NewsSee)

• Evidence of our commitment to environmental, social and governance (ESG) factors and responsible investing

• Joined the network of over 4,000 organizations worldwide, which have publicly demonstrated their commitment to responsible investing

HDFC Life recently signed on to the United Nations-backed Principles for Responsible Investment (PRI), embodying its goal of sustainable growth and long-term value creation.

HDFC Life is committed to following the principles of Responsible Investment (RI). The Company believes that as an active asset manager for policyholders who have entrusted their savings to HDFC Life, it is the Company’s fiduciary responsibility to generate optimal risk-adjusted returns over the long term. This can be achieved by following the IR approach which includes fundamental stewardship principles and consideration of environmental, social and governance (ESG) factors in addition to financial metrics and outlook, while making management decisions. investment. This framework complements HDFC Life’s philosophy of achieving sustainable growth. The company currently has assets under management of over Rs. 2 million.

Commenting on the development, Vibha Padalkar, MD and CEO – HDFC Life, said, “We are delighted to announce our association with the PRI. We strive to grow holistically and sustainably by continuing to invest in the five pillars of our ESG strategy, namely – ethical conduct, responsible investing, diversity, equity and inclusion, holistic living and sustainable operations.

As a guardian of responsible investing, we actively apply the ESG approach in our investment decisions. Our alliance with the PRI will also enable us to streamline our responsible investment framework as well as adopt and share industry and global best practices. Additionally, to promote ESG awareness among policyholders, we recently launched an ESG-focused “sustainable equity fund” and the same is available in our unit-linked insurance plan offerings ( ULIP).

In addition, our sound governance practices have been widely recognized – we won the “Best Governed Company in the Listed Segment: Broad Category” award at the 21st National Corporate Governance Excellence Awards the Institute of Company Secretaries (ICSI).

We believe sustainability is a common goal. The collaborative efforts of organizations around the world to implement good governance practices, invest in responsible businesses, use resources wisely, and instill a culture of giving back to society will help create a strong business ecosystem and long-term value for all stakeholders. . PRI’s mission to bring all of these organizations together on a common platform is a move towards building a sustainable future. Our goal is to contribute to this initiative and demonstrate our commitment to building a greener and more prosperous society.

David Atkin, CEO of the Principles for Responsible Investment, said: “We are delighted to welcome HDFC Life as a signatory to the PRI and welcome the organisation’s recognition of the role responsible investment practices play in the guaranteed long-term risk-adjusted returns for clients. We look forward to working with and alongside the organization as it continues to expand the scope of its responsible investment practices.

About the Principles for Responsible Investment

Created in 2005 by the then Secretary General of the United Nations and a group of some of the world’s leading institutional investors, the PRI or Principles for Responsible Investment are the world’s leading promoter of responsible investment. It strives to understand the investment implications of environmental, social and governance (ESG) factors and to assist its international network of signatory investors to integrate these factors into their investment and ownership decisions. Currently, they have over 4,000 signatories from over 60 countries representing over $120 trillion in assets.

About HDFC Life

HDFC Life Insurance Company Limited (“HDFC Life” / “Company”) is a joint venture between HDFC Ltd., India’s leading housing finance institution and abrdn (Mauritius Holdings) 2006 Limited, a global investment company.

Founded in 2000, HDFC Life is one of the leading providers of publicly listed long-term life insurance solutions in India, offering a range of individual and group insurance solutions that cater to diverse client needs such as protection , retirement, savings, investment, annuity and health. As of March 31, 2022, the Company had 39 individual products and 13 group products in its portfolio, as well as 7 optional benefits, meeting a wide range of customer needs.

HDFC Life continues to benefit from its increased presence across the country with a broad reach with 372 branches and additional distribution touchpoints through several new tie-ups and partnerships. HDFC Life has nearly 300, including traditional partners such as NBFCs, MFIs and SFBs, as well as new ecosystem partners.

The company has a strong base of over 1.15 lakh financial consultants (agents).

For more information, please visit our website, www.hdfclife.com. You can also connect with us on Facebook, Twitter, YouTube and LinkedIn.

Warning

Except for historical information contained in this release, statements contained in this release that contain words or phrases such as “will”, “would”, “indicating”, “expects”, etc., and similar expressions or variations thereof may constitute “search statements”. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to successfully implement our strategy, business growth and expansion, the impact of any technology acquisitions, implementations and changes, the actual growth of demand for insurance products and services, investment income, cash flow projections, our exposure to market risks, policies and actions of regulatory authorities; impact of competition; experience with mortality and morbidity trends, lapse rates and policy renewal rates; the impact of changes in capital, solvency or accounting standards, tax and other laws and regulations in jurisdictions and other risks detailed in reports filed by HDFC Limited, our holding company, with the Securities and United States Exchange Commission. HDFC Life undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

Neither the Company nor any of its directors, officers, employees, agents or advisors, nor any of their respective affiliates, advisors or representatives, undertakes to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise and none of them shall have any liability (whether in negligence or otherwise) for any loss resulting from any use of this press release or its contents or otherwise resulting from relationship. Additionally, nothing in this press release should be construed as constituting legal, business, tax or financial advice or a recommendation regarding the securities. Although the Company believes that these forward-looking statements are based on reasonable assumptions, it cannot guarantee that these expectations will be met. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Company’s management’s current view of future events. Forecasts and hypothetical examples are subject to uncertainties and contingencies beyond the control of the Company. Past performance is not a reliable indication of future performance.

Before acting on any information, you should consider the information’s relevance to these matters, and in particular, you should seek independent financial advice.

REP
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