Mumbai (Maharashtra) [India], April 29 (ANI/NewsVoir): HDFC Life recently signed up for the UN-supported Principles for Responsible Investment (PRI), epitomising its objective 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 with HDFC Life, it is the Company’s fiduciary responsibility to generate optimal risk adjusted returns over the long term.
This objective can be served by following the RI approach which includes core stewardship principles and consideration of environmental, social and governance (ESG) factors in addition to financial parameters and outlook, while making investment decisions. This framework complements HDFC Life’s philosophy of achieving sustainable growth. The Company currently has Assets Under Management of over Rs. 2 lakh crores.
Commenting on the development, Vibha Padalkar, MD & CEO – HDFC Life, said, “We are pleased to announce our association with the PRI. We endeavour to grow holistically and sustainably by continuing to invest in the five pillars of our ESG strategy, namely – ethical conduct, responsible investing, diversity, equity & inclusion, holistic living and sustainable operations.
As a steward for responsible investment, we have been actively applying the ESG approach in our investment decisions. Our alliance with the PRI will further enable us to streamline our responsible investment framework as well as adopt and share the industry and global best practices. Additionally, to promote awareness about ESG amongst policyholders, we recently launched an ESG focused ‘Sustainable Equity Fund’ and the same is available in our Unit Linked Insurance Plan (ULIP) offerings.
Further, our sound governance practices have been widely recognised – we have won the ‘Best Governed Company in the listed segment: Large category’ award at the 21st Institute of Company Secretaries (ICSI) National Awards for Excellence in Corporate Governance.
We believe that sustainability is a shared goal. Collaborative efforts by organisations across the world towards implementation of good governance practices, investment in responsible businesses, judicious utilisation of resources and inculcating a culture of giving back to the society, will help in creating a robust business ecosystem and long-term value for all stakeholders. PRI’s mission of bringing all such organisations on a common platform is an initiative in the direction of building a sustainable future. We aim to contribute towards this initiative and demonstrate our commitment to build a greener and prosperous society.”
David Atkin, CEO at the Principles for Responsible Investment, commented, “We are pleased to welcome HDFC Life as a signatory to the PRI and welcome the organisation’s acknowledgement of the role responsible investment practices have in securing long-term risk adjusted returns for clients. We look forward to working with and alongside the organisation as it continues to expand the scope of its responsible investment practices.”
Created in 2005, by the then United Nations Secretary-General and a group of some of the world’s largest institutional investors, PRI or Principles for Responsible Investment is the world’s leading proponent of responsible investment.
It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. Currently, they have more than 4,000 signatories from over 60 countries representing over USD 120 trillion of assets.
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.
Established in 2000, HDFC Life 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. As on March 31, 2022, the Company had 39 individual and 13 group products in its portfolio, along with 7 optional rider benefits, catering to a diverse range of customer needs.
HDFC Life continues to benefit from its increased presence across the country having a wide reach with 372 branches and additional distribution touch-points through several new tie-ups and partnerships. HDFC Life has nearly 300, comprising traditional partners such as NBFCs, MFIs and SFBs, and including new-ecosystem partners.
The Company has a strong base of over 1.15 lakh financial consultants (agents).
Except for the historical information contained herein, statements in this release which contain words or phrases such as ‘will’, ‘would’, ‘indicating’, ‘expected to’ etc., and similar expressions or variations of such expressions may constitute ‘forward-looking 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, our growth and expansion in business, the impact of any acquisitions, technological implementation and changes, the actual growth in demand for insurance products and services, investment income, cashflow projections, our exposure to market risks, policies and actions of regulatory authorities; impact of competition; experience with regard to mortality and morbidity trends, lapse rates and policy renewal rates; the impact of changes in capital, solvency or accounting standards, tax and other legislations and regulations in the jurisdictions as well as other risks detailed in the reports filed by HDFC Limited, our holding company, with the United States Securities and 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 advisers, or any of their respective affiliates, advisers or representatives, undertake 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 (in negligence or otherwise) for any loss howsoever arising from any use of this press release or its contents or otherwise arising in connection.
Further, nothing in this press release should be construed as constituting legal, business, tax or financial advice or a recommendation regarding the securities. Although Company believes that such forward-looking statements are based on reasonable assumptions, it can give no assurance that such expectations will be met. You are cautioned not to place undue reliance on these forward-looking statements, which are based on current view of Company’s management on future events. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside Company’s control. Past performance is not a reliable indication of future performance.
Before acting on any information you should consider the appropriateness of the information having regard to these matters, and in particular, you should seek independent financial advice.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)