CURRENT AFFAIRS

Detailed explanation-1: -HDFC Standard Life Insurance on Friday changed its name to HDFC Life Insurance following the receipt of relevant approvals from regulatory authorities. The change in name is effective right off the bat and the company will henceforth operate under the name HDFC Life Insurance Company Ltd, it said.

Detailed explanation-2: -HDFC Life Insurance Company Limited is a joint venture between HDFC Ltd., one of India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.

Detailed explanation-3: -HDFC Life Insurance completed the acquisition of Exide Life Insurance on October 14 following the final approval from IRDAI, and in 14 months from the announcement of the deal in September 2021.

Detailed explanation-4: -HDFC ERGO General Insurance Company Ltd. is a joint venture between HDFC Ltd., India’s premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group.