HDFC Life elevates Suresh Badami as Deputy Managing Director

Mumbai, October 29, dmanewsdesk: HDFC Life, one of India’s leading life insurers, at its board meeting, announced that it has elevated Suresh Badami to the role of Deputy Managing Director. The appointment, effective October 21, 2022, has been approved by HDFC Life’s NRC and the Board of Directors, and the said appointment is subject to approval of Regulators, as applicable.
 
Suresh has a rich and diverse experience of 27+ years in sales and business, across varied industries, including 18+years in Banking and Financial services. He has been associated with HDFC Life since October 2013 and has led multiple strategic initiatives within HDFC Life and its subsidiaries. He closely supervised the Exide Life merger within HDFC Life. He continues to play an active role in helping grow the wholly-owned subsidiary, HDFC International Life and Re Company Limited, in Dubai and is a member of their Board of Directors.
 
Commenting on the development, Vibha Padalkar, MD & CEO of HDFC Life, said, “I am pleased to announce the elevation of Suresh from Executive Director & Chief Distribution Officer to the role of the Deputy Managing Director. Suresh will continue to lead our focus on profitable growth and expansion, while steering the business and ensuring smooth transition of Exide Life’s merger with HDFC Life. The company will continue to focus on reducing the protection gap in the country while helping build a more robust, profitable and customer centric organisation.”

About HDFC Life

HDFC Life Insurance Company Limited (‘HDFC Life’ / ‘Company’) is a joint venture between HDFC Ltd., India’s leading housing finance institution and abrdn (Mauritius Holdings) 2006 Limited, a global investment company. Established in 2000, HDFC Life is a leading, listed, long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. The Company has more than 60 products (including individual and group products) and optional riders in its portfolio, catering to a diverse range of customer needs. HDFC Life continues to benefit from its increased presence across the country, having a wide reach with branches and additional distribution touch-points through several new tie-ups and partnerships. The count of distribution partnerships is over 300, comprising banks, NBFCs, MFIs, SFBs, brokers, new ecosystem partners amongst others. The Company has a strong base of financial consultants.

Source: Business Wire India