To set up global in-house centre at Gift City
New Delhi : In the recently held 22nd Annual General Meeting of HDFC Life, the Company informed shareholders that it has secured approval from SEZ authorities at Gift City and in-principle approval from International Financial Services Centres Authority (IFSCA) for setting up a global-in-house centre for HDFC International Life & Re.
Responding to shareholder’s query at the AGM of the company about plans for the GIFT city initiative, Ms. Vibha Padalkar – MD & CEO, HDFC Life clarified that this office will pool and aggregate all processing activities of HDFC International & Re’s businesses and provide optimisation benefits for current and future businesses.
This is the first important step by HDFC International & Re towards setting up an IFSC Insurance Office (IIO) at GIFT City, that will enable the life insurer to cater to the overseas insurance needs of the Indian diaspora.
