STANDARD LIFE INSURANCE

HDFC Standard Life, one of Indias leading private life insurance companies, offers
arange of individual and group insurance solutions. It is a joint venture between
HousingDevelopment Finance Corporation Limited (HDFC), Indias leading housing
financeinstitution and Standard Life plc, the leading provider of financial services in the
UnitedKingdom.HDFC Ltd. holds 72.43% and Standard Life (Mauritius Holding) Ltd.
holds 26.00% of equity in the joint venture, while the rest is held by others.HDFC
St andar d Li f e s pr oduct por t f ol i o compr i s es s ol ut i ons , whi ch meet
var i ous customer needs such as Protection, Pension, Savings, Investment and Health.
Customershave the added advantage of customizing the plans, by adding optional
benefits call edriders, at a nominal price. The company currently has 32 retail and 4 group
products in its portfolio, along with five optional rider benefits catering to the savings,
investment, protection and retirement needs of customers.HDFC Standard Life continues to
have one of the widest reaches among new insurancecompanies with 568 branches
servicing customer needs in over 700 cities and towns. Thecompany has a strong presence
in its existing markets with a base of 2,00,000 Financial Consultants.
HDFC STANDARD LIFE INSURANCE PARENTAGE
HDFC Limited
HDFC Limited, India' s premier housing finance institution has assisted more than
3.4million families own a home, since its inception in 1977 across 2400 cities and
townsthrough its network of over 271 offices. It has international offices in Dubai, London and2

Singapore with service associates in Saudi Arabia, Qatar, Kuwait and Oman to
assist NRI's and PIO's to own a home back in India. As of December 2009, the total asset
sizehas crossed more than Rs. 104,560 crores including the mortgage loan assets of
morethan Rs.90,400 crores. The corporation has a deposit base of over Rs. 23,000
crores,earning the trust of nearly one million depositors. Customer Service and satisfaction
has been the mainstay of the organization. HDFC has set benchmarks for the Indian
housingfinance industry. Recognition for the service to the sector has come from several
nationaland international entities including the World Bank that has lauded HDFC as
a modelhousing finance company for the developi ng countries. HDFC has
undertaken a lot of cons ul t anci es abr oad as s i s t i ng di f f er ent count r i es
i ncl udi ng Egypt , Mal di ves , and Bangladesh in the setting up of housing finance
companies.
Standard Life
Standard Life is one of the UK's leading long term savings and investments
companiesheadquartered in Edinburgh and operating internationally. Established in 1825,
StandardLi f e pr ovi des l i f e as s ur ance and pens i ons , i nves t ment management
and heal t hcar e insurance products to over 6 million customers worldwide. The Group has
around 10,000employees across the UK, Canada, Ireland, Germany, Austria, India,
USA, Hong Kongand mai nl and Chi na. At t he end of December 2010 t he
Gr oup had t ot al as s et s under administration of 170.1bn. Standard Life's diverse
business includes one of the largestlife and pensions businesses in the UK with more than 4
million customers; Standard LifeInvestments, which currently manages assets of over
138.7bn globally and StandardLife Healthcare, a private medical insurance
company which is one of the largest in theUK. On 10 J ul y 2006, af t er 80 year s
as a mut ual company, St andar d Li f e As s ur ance Company demutualised and
Standard Life plc was listed on the London Stock Exchange.St andar d Li f e now has
appr oxi mat el y 1. 5 mi l l i on i ndi vi dual s har ehol der s i n ove r 50countries around
the world.3

Vision & Values
Vision
' The most successful and admired life insurance company, which means that we are
themost trusted company, the easiest to deal with, offer the best value for money, and set
thestandards in the industry'.
'The most obvious choice for all'.Values
Values that we observe while we work:

Integrity

Innovation

Customer centric

People Care One for all and all for one

Team work

Joy and SimplicityBes i des t he above ( whi ch pr ovi des an i ns i ght i nt o t he
Cor por at e St r uct ur e of t heCompany) , t he Commi t t ees appoi nt ed by t he
Boar d f ocus on s peci f i c ar eas and t akei nf or med deci s i ons wi t hi n t he
f r amewor k of del egat ed aut hor i t y, and make s peci f i c recommendations to the
Board on matters within their areas of purview. All decisions andrecommendations of the
Committees are placed before the Board for information or for approval.4

Awards & Accolades
Year 2010Best Companies to Work for in India in 2010
HDFC St andar d Li f e has been adj udged one of t heBes t Compani es t o Wor k
f or i n I ndi a i n 2010. The company participated in the Great Places to
Works t u d y f o r t h e f i r s t t i m e a n d r a n k e d f i r s t i n t h e insurance
category. It ranked 34th on the Top 50 BestCompanies to Work for, in India 2010 list. The
company was also awarded for its uniqueemployee initiative - Mission in-Genius national quiz.
The study has shown that HDFCStandard Life conscientiously develops employee talent
programmes to keep engagingand motivating its employees. The company provides
some unique platforms such as'Mission in Genius' national quiz. The management is
accessible to all at all times andsincerely seeks feedback from its employees
through programmes such as 'Sparsh', thestudy said.The Best Companies to Work in India
is a study conducted by the Great Place to WorkInstitute, India in partnership with The
Economic Times. The 2010 edition is the seventhstudy in India, which received
overwhelming response from more than 400 companies,making it the largest such
study in India. And only 50 companies made it to the BestCompanies to Work list!
'YoungStar Super' Voted 'Product of the Year 2010'
HDFC Standard Lifes YoungStar Super has been votedProduct of the Year 2010
in the ' Insurance' category bym o r e t h a n 3 0 , 0 0 0 c o n s u m e r s
n a t i o n w i d e a c r o s s 3 6 markets. YoungStar Super is an unit linked Children
Plan5


with unique benefits such as bumper additions, double and triple benefits,
attractiveallocations rates, and seven different funds.The consumer study on product
innovation in India was conducted by A C Nielsen, thel eadi ng gl obal r es ear ch
f i r m. Ent r i es wer e accept ed f r om pr oduct s t hat demons t r at e innovation in their
product function, design, packaging or process or any other specifiedform. Entries were then
filtered by a jury of distinguished industry professionals to ensurethat the products meet the
innovation criteria before they were passed on to the consumer votes/survey round. Product
of the Year is an Internationally Recognized Standard that cel ebr at es and r ewar ds
t he bes t i nnovat i ons i n cons umer pr odu ct s and s er vi ces . ThePr oduct of t he
Year i s s el ect ed t hr ough an i ndependent cons umer s ur vey acr os s t he country
in 26 countries for the past 20 years.
Year 2009Received CIO 'The Ingenius 100 2009' Award
H D F C S t a n d a r d L i f e h a s r e c e i v e d t h e C I O T h e I ngeni ous 100 -
2009 Awar d, f or ATLAS ( AgencyT r a i n i n g L i c e n s i n g a n d
S e r v i c i n g S y s t e m ) . Additionally, the company has received the CIO
100 S e c u r i t y Awa r d 2 0 0 9 f o r p i o n e e r i n g
LANDe s k M a n a g e m e n t a n d S e c u r i t y S u i t e
s e c u r i t y implementation and taking its security to a higher level of technological
excellence.HDFC Standard has received the CIO 100 Award for the third consecutive
year. It hadreceived the 2008 CIO Bold Award for Consultant Corner and CIO
Security Award for our i ni t i at i ves f or a s ecur e comput i ng envi r onment ,
i ncl udi ng Ses ame - I dent i t y andAccess Management. In 2007, the company
received CIO 100 award for Wonders and aSpecial Award in Storage category.CI O
magaz i ne has a l ong t r adi t i on of honor i ng l eadi ng compani es f or
bus i nes s andtechnology leadership and innovations through its flagship award
program CIO 100.6


Its a celebration of 100 organizations (and the people within them) that are using
IT ininnovative ways to deliver business value, whether by creating competitive
advantage,opt i mi zi ng bus i ne s s pr oces s es , enabl i ng gr owt h or i mpr ovi ng
r el at i ons hi ps wi t hcustomers.
Received Diamond EDGE Award 2009
HDFC St andar d Li f e has r ecei ved t he Di amond EDGEAward 2009 for its
mobile workforce portal - ConsultantC o r n e r . E D G E - E n t e r p r i s e s
D r i v i n g G r o w t h a n d E x c e l l e n c e ( u s i n g I T ) i s a n i n i t i a t i v e b y
t h e ,
Network Computing
magaz i ne t o i dent i f y, r ecogni s e, and honour end-user companies in India that
have demonstrated the best use of technology to solve a business problem, improve business
competitiveness,and deliver quantifiable ROI to stakeholders. Network Computing magazine is
part of CMP Technology, which brings more than 100I T medi a br ands t o mor e t han 18
mi l l i on t echnol ogy and bus i nes s deci s i on maker s worldwide.
Business Strengths & Key Differentiators
HDFC St andar d Li f e bel i eves t hat es t abl i s hi ng a s t r ong and et hi cal
f oundat i on i s ane s s e n t i a l p r e r e q u i s i t e f o r l o n g - t e r m s u s t a i n a b l e
g r o wt h . T o e n s u r e t h i s , we h a v e concentrated our focus on expansion of branch
network, organising an efficient and welltrained sales force, and setting up appropriate systems
and processes with optimum use of technology. As all these areas form the basic
infrastructure for establishing the highest possible customer service standards.Our core
values are drilled down to all levels of employees, as these are inviolable.
Wecontinue to promote high integrity in business practices and shun short cuts and
unethical practices, as we wish to be perceived as an institution with high moral standing. Since
our 7
inception in 2000, when the Indian insurance space was opened for private participation,we have
consistently focused on setting benchmarks in all aspect on insurance business.Being the first
private player to be registered with the IRDA and the first to issue a policyon December 12,
2000, our differentiators are:

Strong Promoter:
HDFC Standard Life is a strong, financially secure businesssupported by two strong
and secure promoters HDFC Ltd and Standard Life. HDFC Lt d s excel l ent
br and s t r engt h emer ges f r om i t s unr el ent i ng f ocus o ncorporate governance, high
standards of ethics and clarity of vision. Standard Lifei s a s t r ong, f i nanci al l y s ecur e
bus i nes s and a mar ket l eader i n t he UK Li f e &Pensions sector.

Preferred and trusted brand:
Our brand has managed to set a new standard int he Indian life insurance
communication space. We were the first private lifeinsurer to break the ice using the idea
of self-respect instead of death to conveyour brand proposition (Sar Utha Ke Jiyo).
Today, we are one of the few brandsthat customers recognize, like and prefer to do
business. Moreover, our brandthought, Sar Utha Ke Jiyo, is the most recalled campaign in
its category.

Investment philosophy:
We f ol l ow a cons er vat i ve i nves t ment management philosophy to ensure that our
customers money is looked after well. Theinvestment policies and actions are regularly
monitored by a formal Investment Commi t t ee compr i s i ng non - execut i ve
di r ect or s and t he Pr i nci pal Of f i cer &Executive Director.As a life insurance
company, we understand that customers have invested their savings with us for the
long term, with specific objectives in mind. Thus, our investment focus is based on
the primary objective of protecting and generatinggood, consistent, and stable investment
returns to match the investors long-termobjective and return expectations, irrespective of the
market condition.8

Need based selling approach:
Despite the criticality of life insurance, sales inthe industry have been characterized by
over reliance on tax benefits and limitedadvice-based selling. Our eight-step structured
sales process Disha however,helps customers understand their latent needs at the
first instance itself without focusing on product features or tax benefits. Need-based selling
process, 'Disha',t h e f i r s t o f i t s k i n d s i n t h e i n d u s t r y , l o o k s a t t h e wh o l e
f i n a n c i a l p i c t u r e . Customers see a plan not piecemeal product selling.

Risk control framework:
HDFC St andar d Li f e has f ul l y i mpl ement ed a r i s k c o n t r o l f r a me wo r k t o
e n s u r e t h a t a l l t y p e s o f r i s k s ( n o t j u s t f i n a n c i a l ) a r e i dent i f i ed and
meas ur ed. Thes e ar e r egul ar l y r epor t ed t o t he boar d and t hi s ensures that the
company management and board members are fully aware of anyrisks and the actions taken to
ensure they are mitigated.

Focus on training:
Training is an integral part of our business strategy. Almostall employees have undergone
training to enhance their technical skills or thes of t er behavi our al s ki l l s t o be
abl e t o del i ver t he s er vi ce s t andar ds t hat our c o mp a n y h a s s e t f o r
i t s e l f . Be s i d e s t h e ma n d a t o r y t r a i n i n g t h a t F i n a n c i a l Cons ul t ant s
have t o under go pr i or t o bei ng l i cens ed, we have devel oped and implemented
various training modules covering various aspects including productknowledge, selling skills,
objection handling skills and so on.

Focus on long term value:
HDFC Standard Life do not focus in the business of ramping up the topline only, but to
create maximization of stakeholder's value. Today, we are extremely satisfied with the
base that we have created for the long-term success of this company.

Transparent dealing:
We are one of the few companies whose product details, pricing, clauses are clearly
communicated to help customers take the rightdecision.9

Strict compliance with regulations:
We have initiated and implemented manynew processes, some of which were found
useful by the IRDA and later mademandatory for the entire industry. The agents
who successfully completed thistraining only, were authorized by the company to sell
ULIPs. This has now beenmade compul s or y by I RDA f or al l i ns ur ance
compani es under t he new Un i t Linked Guidelines.

Diversified product portfolio:
HDFC St andar d Li f e s wi de and di ver s i f i ed product portfolio help individuals meet
their various needs, be it:1 . P r o t e c t i o n : N e e d f o r a s o u n d i n c o m e
p r o t e c t i o n i n c a s e o f y o u r unfortunate demise2.Investment: Need to
ensure long-term real growth of your money3.Savings: Save for the milestones and
protect your savings too4.Pension: Need to save for a comfortable life post
retirement5. Heal t h: Cover f or heal t h r el at ed exi genci es
Brief Profile of the Board of Directors
The Board is responsible to act in the best interests of the Company and its shareholders.I n
di s char gi ng t hei r dut i es t he Di r ect or s s hal l compl y wi t h t he Code of
Conduct as adopted by the Board.Directors are expected to attend and actively participate in
Board Meetings and Meetingsof Committees on which they serve and to spend the time needed
and meet as frequentlyas necessary to properly discharge their responsibilities.The Board is
responsible for overall compliance with the corporate governance policy of the Company. It
oversees and directs the management of the Companys business andaffairs. In
doing so, it must act honestly, in good faith and in the best interests of
theCompany.10
Mr. Deepak S. Parekh
is the Chairman of the Company. He is also the Chairman andDirector of Housing
Development Finance Corporation Limited (HDFC Limited). He joined HDFC Limited
in a senior management position in 1978. He was inducted as awhole-time director of HDFC
Limited in 1985 and was appointed as its Chairman in1993. Mr . Par ekh i s a
Fel l ow of t he I ns t i t ut e of Char t er ed Account ant s ( Engl and &Wales).
Mr. Keki M. Mistry
joined the Board of Directors of the Company inDe c e mb e r , 2 0 0 0 . He i s c u r r e n t l y
t h e Vi c e Ch a i r ma n a n d Ch i e f Execut i ve Of f i cer of HDFC Li mi t ed. He
j oi ned HDFC Li mi t ed i n 1981 and became an Executive Director in 1993. He was
appointed asits Managing Director in 2000. Mr. Mistry is a Fellow of the Instituteo f
Ch a r t e r e d Ac c o u n t a n t s o f I n d i a a n d a me mb e r o f t h e Mi c h i g a n
As s o c i a t i o n o f Certified Public Accountants.
Ms. Renu S. Karnad
is the Managing Director of HDFC Limited. Sheis a graduate in Law and holds a Master's
degree in Economics fromDelhi University. She has been employed with HDFC
Limited since1978 and was appointed as the Executive Director i n 2000 and
DeputyManagi ng Di r ect or i n 2007. She i s r es pons i bl e f or over s eei ng
al l aspects of lending operations of HDFC Limited.
Mr. David Nish
joined Standard Life on 1 November 2006 as GroupFinance Director and remained
in that position until December 2009.11
He is appointed as the Executive Europe on 1st January 2010. In 2000 he was
awardedthe Scottish Business Awards Finance Director of the Year and from 2004
to 2005 hes er ved on t he Gover nment Empl oyer s Pens i on Tas k For ce. He i s
a member of t heI ns t i t ut e of Char t er ed Account ant s of Scot l and. He j oi ned
t he Boar d of Di r ect or s i n February 2010.
Mr. Nat han Parnaby
i s a p p o i n t e d a s t h e C h i e f Executive, Europe & Asia of Standard Life in the
year 2 0 1 0 . N a t h a n j o i n e d S t a n d a r d L i f e i n 1 9 8 2 a s Investment
Manager, responsible for all UK net funds.He wa s a p p o i n t e d a Di r e c t o r o f t h e
S t a n d a r d Li f e I n v e s t me n t s b o a r d . He i s a Ma t h e ma t i c s g r a d u a t e
f r o m Ox f o r d University and the Member of the Securities Institute. He joined
theBoard of Directors in December 2009.
Mr. Norman K. Skeoch
is currently the Chief Executive in StandardLife Investments Limited and is responsible for
overseeing InvestmentProcess & Chief Executive Officer Function. Prior to this, Mr. Skeochwas
working with M/s. James Capel & Co. holding the positions of UK Economi s t ,
Chi ef Economi s t , Execut i ve Di r ect or , Di r ect or of Controls and Strategy HSBS
Securities and Managing Director International Equities. Hewas al s o r es pons i bl e f or
Economi c and I nves t ment St r at egy r es ear ch pr oduced 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 aFellow of the Institute of Chartered
Accountants of India. Mr. Divanwa s t h e F o r me r Ch a i r ma n a n d Ma n a g i n g
Co mmi t t e e Me mb e r o f Mi d s n e l l Gr o u p I n t e r n a t i o n a l , a n
I n t e r n a t i o n a l As s o c i a t i o n o f 12
Independent Accounting Firms and has authored several papers of professional
interest.Mr. Divan has wide experience in auditing accounts of large public limited
companiesand nat i onal i s ed banks , f i nanci al and t axat i on pl anni ng of
i ndi vi dual s and l i mi t ed companies and also has substantial experience in structuring
overseas investments to andfrom India.
Mr. Ranj an Pant
i s a gl obal Management Cons ul t ant advi s i ng CEO/Boards on Strategy and
Change Management. Mr. Pant, until 2 0 0 2 wa s a P a r t n e r & Vi c e - P r e s i d e n t
a t Ba i n & Co mp a n y , I n c . , Bos t on, wher e he l ed t he wor l dwi de Ut i l i t y
Pr act i ce. He was al s o Di r e c t o r , Co r p o r a t e Bu s i n e s s De v e l o p me n t a t
Ge n e r a l E l e c t r i c headquarters in Fairfield, USA. Mr. Pant has an MBA from 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 coreteam to set-up the Securities & Exchange Board of India (SEBI)
and isalso associated with various committees of SEBI and the Reserve Bank of India (RBI).
Mr. A. K.T. Chari
has joined HDFC Standard Life as a Director onMarch 10, 2010. Mr. Chari has
completed his Electrical Engineeringfrom Madras University in 1962. He is associated with
InfrastructureDe v e l o p me n t F i n a n c e Co mp a n y Lt d . ( I DF C) f o r l a s t 1 1
y e a r s . Currently he is handling project finance for infrastructure projects atIDFC.
Prior to this he was associated with Infrastructure Development Bank of India(IDBI)
from 1975 to 1999.
Mr. Gerald E. Grimstone
was appointed Chairman of Standard Life inMa y 2 0 0 7 , h a v i n g b e e n De p u t y
Ch a i r ma n s i n c e Ma r c h 2 0 0 6 . He 13
became a director of the Standard Life Assurance Company in July 2003. He is alsoChairman
of Candover Investments plc and was appointed as one of the UKs
BusinessAmbassadors by the Prime Minister in January 2009. Gerry held senior positions
withinthe Department of Health and Social Security and HM Treasury until 1986. He then
spent13 years with Schroders in London, Hong Kong and New York, and was Vice Chairmanof
Schroders worldwide investment banking activities from 1998 to 1999. He is
theAlternate Director to Mr. David Nish.
Mr . Mi c h a e l G Co n n a r t y
i s r e s p o n s i b l e f o r S t a n d a r d Li f e ' s investments in life assurance Joint
Ventures in India and China. Heholds a degree in Law and MBA. He has worked
with Standard Lifefor 33 years in managerial positions covering a number of fields suchas
Pensions law, International Marketing, Operational Management,Strategy, Risk,
Compliance, Company Secretarial and Banking. He has acted as Project Manager for
the start-up project of the Company in 2000. He is the Alternate Director toMr. Norman K.
Skeoch.
Mr. Amitabh Chaudhry
is the MD and CEO of HDFC Standard Life.Be f o r e j o i n i n g HDF C S t a n d a r d Li f e ,
h e wa s t h e MD a n d CE O o f Infosys BPO and was also heading an Independent
Validation Servicesu n i t i n I n f o s y s T e c h n o l o g i e s . He s t a r t e d h i s c a r e e r
wi t h Ba n k o f America delivering diverse roles ranging fr om Head of
TechnologyInvestment Banking for Asia, Regional Finance Head for Wholesale Banking and
GlobalMarkets and Chief Finance Officer of Bank of America (India). He moved to
CreditLyonnais Securities in 2001 in Singapore where he headed their investment
bankingfranchise for South East Asia and structured finance practice for Asia
before joiningI nf os ys BPO i n 2005. Mr . Chaudhr y compl et ed hi s
Engi neer i ng i n 1985 f r om Bi r l a Institute of Technology and Science, Pilani and MBA in
1987 from IIM, Ahmedabad.14
Mr. Paresh Parasnis
is the Executive Director and Chief OperatingOf f i c e r o f t h e c o mp a n y . A
f e l l o w o f t h e I n s t i t u t e o f Ch a r t e r e d Accountants of India, he has been
associated with the HDFC Groups i nce 1984. Dur i ng hi s 16- year t enur e at
HDFC Li mi t ed, he was responsible for driving and spearheading several key initiatives. As
one of the foundingmember s of HDFC St andar d l i f e, Mr . Par as ni s has been
r es pons i bl e f or s et t i ng up branches, driving sales and servicing strategy, leading
recruitment, contributing to product launches and performance management system, overseeing
new business andclaims settlement, customer interactions etc.
Associate Companies
HDFC
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 withouta 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 clienteleand the desire to give them your best.Today,
nearly three million satisfied customers whose dream we helped realize,
standtestimony 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 propertyrelated services and a training facility.15
We also offer specialized financial services to our customer base through
partnershipswith some of the best financial institutions worldwide.
HDFC Bank
The Housing Development Finance Corporation Limited (HDFC)was amongst the first to
receive an 'in principle' approval from theReserve Bank of India (RBI) to set up a bank in
the private sector, as part of the RBI' sl i ber al i z at i on of t he I ndi an Banki ng
I ndus t r y i n 1994. The bank was i ncor por at ed i n 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 January1995.
HDFC Mutual Fund
HDFC Mutual Fund has been one of the best performing mutualfunds in the last few
years. HDFC Asset Management CompanyLimited (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 firmStandard Life Investments Limited. It
conducts the operations of the Mutual Fund andmanages 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 hade n t e r e d i n t o a n a g r e e me n t wi t h Z I C t o
a c q u i r e t h e a s s e t ma n a g e me n t b u s i n e s s . Consequently, all the schemes of
Zurich Mutual Fund in India had been transferred toHDFC mutual fund and renamed as
HDFC schemes.
HDFC Sales
16
HDFC Sales is a wholly owned subsidiary of HDFC Ltd. The company has been floateda s a
d i s t r i b u t i o n a r m o f HDF C wi t h a n o b j e c t i v e o f o f f e r i n g d o o r s t e p
s e r v i c e t o prospective clients of HDFC group. HDFC Sales offers financial management
solutionsto individuals encompassing among other products Home Loans, Life Insurance,
MutualFunds, Fixed Deposits and property Solutions.
Home Loans:
HDFC Sales is present in over 100 locations across the country with 55offices and
over 1750 employees.
Financial Management:
HDFC Sales offers financial management solutions in 9 citiesand is continuously expanding
its reach. HDFC Sales employs sales persons across all spectrums of financial
management enabling them to meet a range of financial needs.
HDFC Realty:
HDFC Sal es manages t he HDFC Real t y bus i nes s and t he
Webs i t e(hdfcrealty.com) which offers property solutions buying, selling, leasing to
Individualsand Corporates. HDFC Realty is present in all the major cities in India as
well as inDubai.The company mirrors the philosophy and values of its parent, HDFC."HDFC's
finest investment is in its Human Resources. It draws its personnel from manydi s ci pl i nes .
They ar e t he bui l di ng bl ocks on whi ch t he company' s per f or mance
& productivity is based". H T Parekh, Founder - Chairman, HDFCHDFC Sales values integrity,
commitment, teamwork and excellence in customer service.Our most valuable assets are
our Human Resources. We are truly proud that today wehave a highly motivated
team of sales persons and that we have the lowest employeeturnover rate in the
Industry.
HDFC ERGO
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between
HDFC Limited
, Indias premier Housing17
Finance Institution &
ERGO International AG
, the primary insurance entity of MunichRe Group.HDFC ERGO focuses on providing the
Right Insurance Solution
for all. We offer our customers complete range of general insurance products ranging
from Motor, Health,Travel, Home and Personal Accident in the retail space and
customized products likeProperty, Marine and Liability Insurance in the corporate space.I t
i s our cons t ant endeavor t o i mpr ovi s e and cat er t o ever y need of t he
moder n da ycustomer with superior customer support service. This helps us give
our customers aseamless and hassle-free experience.HDFC ERGO has been expanding its
presence across the country and is today present across 71 cities with 78 branch offices
with an employee base of over 950 professionals.The company has a r i ght bal ance of
di s t r i but i on channel compr i s i ng of Deal er s hi ps , Brokers, Retail and Corporate
Agents, Bancassurance and Direct Sales Team.
Other Companies

HDFC Trustee Company Ltd.

GRUH Finance Ltd.

HDFC Developers Ltd.

HDFC Property Ventures Ltd.

HDFC Ventures Trustee Company Ltd.

HDFC Investments Ltd.

HDFC Holdings Ltd.

Credit Information Bureau (India) Ltd

HDFC Securities18
HDFC Standard Life Milestones

Recei ved t he PCQues t Bes t I T I mpl ement at i on Awar d 2008 f or
Cons ul t ant Corner, the applications for its financial consultants, providing centralized
controlover a vast geographical spread for key business units such as inventory,
training,licensing, etc.

Received the 2008 CIO Bold 100 Award for its mobile workforce portal and
theSpecial 2008 CIO Security Award for a secure computing environment, includingidentity
management respectively.

Mr. Deepak M Satwalekar Awarded QIMPRO Gold Standard Award.

HDFCSL expanded its reach in the Bancassurance channel by arrangements withco-operative
banks in the rural areas.

Continued to increase its focus on quality service, by putting in place a
robustmechanism to capture Voice of the Customer through service audits across
itsoffices. This was complemented by use of technology that enabled capture of allinteractions
with customers across all touch points

S a r Ut h a Ke J i y o
was honoured as Among Indias 60 Glorious AdvertisingMoments. The
advertisements of the company were ranked 6
th
amongst The 10most effective Advertisements in September 2007.

Recei ved t he PCQues t Bes t I T I mpl ement at i on Awar d 2007 f or Wonder s ,
i t s path-breaking implementation of an enterprise-wide workflow system. In additionthe
company also bagged the EMC storage award for being the most innovativeusers of
storage and storage management.

Pension Plan Tops Mints Survey of Best TV Ads.

HDFC St andar d Li f e s adver t i s i ng cr eat ed hi gh awar enes s f or t he br and
and bagged 2 silver and 1 bronze awards at the ADFEST 2007 National Awards19
or gani s ed by t he Adver t i s i ng Agenci es As s oci at i on of I ndi a ( AAAI ) . The
3awards are the highest won by any single brand in the financial services business(including
banking, mutual fund, insurance and other financial services).

Ranked 29
th
most trusted Indian Brands amongst the Top 50 Service Brands of 2006 according to a
study conducted by the Brand Equity Economic Times, theleading business publication of
India.
Corporate Governance
Introduction
The Corporate Governance Policy provides the framework under which the Board
of Directors operates. It includes its corporate structure, culture, policies and the manner
inwh i c h i t d e a l s wi t h v a r i o u s s t a k e h o l d e r s . T h e g o v e r n a n c e
p o l i c i e s a d d r e s s t h e responsibilities, authority and administration of the Board of
Directors. The policies alsoinclude the responsibilities of the Principal Officer and define the
reporting relationships.T i me l y a n d a c c u r a t e d i s c l o s u r e o f i n f o r ma t i o n
r e g a r d i n g t h e f i n a n c i a l s i t u a t i o n , performance, board constitution, ownership of
the company etc. is an important part of corporate governance. Corporate governance
arrangements are those through which anorganization directs and controls itself and the
people associated with it.The Policy is normally reviewed annually and modified when
appropriate to ensure proper alignment with best practices in corporate governance.
Companys Philosophy
Cor por at e Gover nance i s a pr oces s t hat ai ms t o meet s t akehol der s
as pi r at i ons andsocietal expectations. It is not a discipline imposed by a Regulator, rather is a
culture thatgui des t he Boar d, Management and Empl oyees t o f unct i on
t owar ds bes t i nt er es t of Stakeholders.20
At HDFCSL, Corporate Governance philosophy stems from the belief that
corporategovernance is a key element in improving efficiency and growth as well as
enhancingi nves t or conf i dence. Accor di ngl y, t he Cor por at e Gover nance
phi l os ophy has been scripted as under: As a good corporate citizen, the Company
is committed to soundcorporate practices based on its vision, values & principles in building
confidence of itsvarious stakeholders, thereby paving the way for its long term success and
sustenance.At the core of its corporate governance practice is the Board, which
oversees how themanagement serves and protects the long-term interests of all the
stakeholders of theCompany. The Company believes that an active, well-informed and
independent Board isnecessary to ensure the highest standards of corporate governance.The
Company s cor por at e gover nance pr act i ces ar e ai med at meet i ng t he
cor por at e governance requirements as per the IRDA Corporate Governance
Guidelines, besidesgood pr act i ces ei t her r ecommended by pr of es s i onal
bodi es or pr act i s ed by l eadi ngcompanies in India. .The following Corporate
Governance Policy has been adopted by the Board of Directorsto assist the Board in the
exercise of its responsibilities. This Policy is subject to futureamendments or changes,
as may be necessary, in the light of the amendments in variousregulations in force for
governance requirements.
Products of HDFC Standard Life Insurance
1 . Pr o t e c t i o n Pl a n s :
They help you shield your family from uncertainties in life dueto financial losses in terms of loss
of income that may dawn upon them incase of your untimely demise or critical illness. Securing
the future of ones family is oneof the most important goals of life. Protection Plans go
a long way in ensuringyour familys financial independence in the event of your
unfortunate demise or critical illness. They are all the more important if you are the chief
wage earner inyour f ami l y. No mat t er how much you have s aved or i nves t ed
over t he year s , 21
sudden eventualities, such as death or critical illness, always tend to affect
your family financially apart from the huge emotional loss.
Types of Protection Plans

HDFC Term Assurance Plan

HDFC Premium Guarantee Plan

HDFC Loan Cover Term Assurance Plan

HDFC Home Loan Protection Plan
2 . Re t i r e me n t Pl a n s :