HDFC Group introduces life insurance, asset management services from Gujarat's GIFT City's IFSC
HDFC Group announced the official launch of its life insurance and asset management services in Gujarat's GIFT City's International Financial Services Centre (IFSC). To provide services to Non-Resident Indians (NRIs) and the worldwide Indian diaspora, HDFC International Life and Re was created by HDFC Life, and HDFC AMC International (IFSC) Ltd was established by HDFC Asset Management Company.
The group said in a statement that HDFC AMC International would offer fund management and advisory services as part of its offshore centre, while the new unit operating under the name HDFC Life International will offer life and health insurance options denominated in US dollars. According company's release, HDFC Life International will offer insurance products with top-notch features that are not restricted by national boundaries to NRIs and the worldwide Indian diaspora.
Most importantly, international currencies like the US Dollar can be used to pay for these products. The whole spectrum of services provided by HDFC Life International comprises products that take care of a person's financial requirements for retirement, health care, and savings.
The group company also announced that enrollment in its first product, the "US Dollar Global Education Plan," which aims to assist parents in building a corpus denominated in US dollars to cover future costs associated with their child's abroad education, is now available. This product attempts to end any future inconsistency between the investment currency and the currency of expenses.
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