HDFC Standard Life Insurance Company set up a wholly-owned reinsurance company at the Dubai International Financial Centre (DIFC).
The subsidiary HDFC International Life and Re Company Limited (HILRCL)has been set up with an initial capital of USD 12.33 million.
- Business: To offer reinsurance capacity to insurers and may also venture directly into underwriting insurance contracts, subject to receipt of necessary approvals.
- It will initially offer reinsurance capacity in the UAE and subsequently expand to other jurisdictions.
*Points to remember:HDFC
- CEO: AdityaPuri
- Headquarters: Mumbai
- Founder: Hasmukhbhai Parekh
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