HDFC Life Insurance Company (HDFC Life) was established in 2000 as a joint venture between HDFC and Standard Life Aberdeen. In FY15-17, growth in new business premium remained strong at 29% CAGR to Rs. 19445 crore and grew to Rs. 9051 crore by September 2017. It has a comprehensive product portfolio of 32 individual and 10 group products, including a range of protection and savings products to address the insurance needs of diverse customer segments. In terms of distribution strength, it has 66,372 individual agents (which comprise 6.8% of all private agents in the Indian life insurance industry) and has 125 banking tie-ups including HDFC Bank giving access to the huge branch network. HDFC Life has a healthy balance sheet with total net worth of Rs. 44.6 billion and solvency ratio of 200.5% as at September 30, 2017, above the minimum 150%. It reported PAT of Rs. 886.9 crore and delivered return on equity of 25.6% in FY17. As on September 30, 2017, it had a total AUM of Rs. 995.3 billion and Indian embedded value of Rs. 140.1 billion....