Question
Which life insurance company has announced that the
overseas branch of its international subsidiary will now offer US Dollar denominated life and health insurance solutions for Non-Resident Indians (NRIs) from GIFT City – IFSC?Solution
HDFC Life – the insurance arm of HDFC Bank has announced that the overseas branch of its international subsidiary HDFC International Life and Re, will now offer US Dollar denominated life and health insurance solutions for Non-Resident Indians (NRIs) from GIFT City – IFSC, under the brand name HDFC Life International. HDFC Life International will cater to NRIs and the global Indian diaspora, and the products Savings, Health, and Retirement. The first product –US Dollar Global Education Plan, is now open for enrollment and is designed to help parents build a US Dollar denominated corpus to meet future expenses for their child’s overseas education. This product aims to eliminate any future mismatch between the currency of investment and the currency of expenses. The asset management arm, HDFC AMC also announced the set-up of its wholly owned subsidiary HDFC AMC International (IFSC) Limited at IFSC
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