HDFC Life, one of the leading private life insurance companies of India, has announced the launch of its first international operations with the opening of its new office in Dubai.

Announcing the launch, Anup Rau, executive VP and head of Sales and Distribution, “HDFC Life is a preferred and trusted brand in India and has diverse product portfolio catering to the different life stage needs of an individual.'

'The launch of our operations in Dubai is the beginning of HDFC Life’s expansion into the region. The vast NRI population would be able to closely understand the benefits of our wide ranging product portfolio catering to their protection, investment and savings, and retirement needs,' he explained.

The objective of this office, he said, would be to serve our existing policy holders and further understand their financial needs better.

We believe that the need for life insurance – either protection or saving –is universal, irrespective of market conditions,' said Rau.

'Everyone has a need, be it protection of income from unforeseen events, protection from loan liability, planning for future savings requirements, pension requirement or cover for medical exigencies,' he added.

HDFC Life VP and head of International Business MI Taher said, 'GCC is an important region for our growth and UAE with a large NRI population base, is key to this growth, hence it was of prime importance to open office in Dubai.'

'It is the first step towards understanding the Gulf market, the customer segments, apart from serving our existing policy holders and further understanding their financial needs.'

'Our presence in this region will help us research the market better and devise new products catering to the specific needs of the NRI’s here,' he added.-TradeArabia News Service