HDFC International Life and Re Company Limited (HDFC International Life & Re) was set up with a base capital of USD 12.33 million and incorporated in Dubai on January 10, 2016 under the Dubai International Finance Centre (“DIFC”) Companies Law No. 2 of 2009 under registration number 2067. HILRCL received its regulatory license from the Dubai Financial Services Authority ("DFSA") effective January 31, 2016.
HDFC International Life & Re, regulated by the DFSA is licensed to undertake life reinsurance business in the UAE and provides risk-transfer solutions, prudent underwriting solutions and value added services, among others, across individual life, group life and group credit life lines of business and currently offers reinsurance capacity in the Gulf Cooperation Council (“GCC”) region
HDFC International Life & Re draws significantly from HDFC Life’s expertise and experience in underwriting and caters to the requirements of domiciled insurers, while addressing the needs of this growing segment in the GCC region. The business consists of both treaty and facultative reinsurance arrangements assumed from ceding companies in the GCC region relating to a broad range of life insurance products across Individual Life and Group Life offered by such ceding companies in the region.