HDFC Life, one of India’s leading insurers, and Peerless Financial Products Distribution Ltd.(PFPDL) have entered into a corporate agency tie-up. This partnership would enable PFPDL to distribute life insurance products of HDFC Life to its customers. PFPDL is a subsidiary of the Peerless General Finance & Investment Co. Ltd (PGFI), one of India’s oldest and biggest NBFCs in East India. PFPDL has 40 branches with a broad customer base across 42 locations.
PFPDL will provide financial protection to its customers through this tie-up, offering both digital and physical platforms for customers to choose their preferred service mode. Speaking about the new association, Satyaki Bhattacharya- Managing Director& CEO, Peerless Financial Products Distribution Ltd said, “We are delighted to collaborate with HDFC Life in our endeavour to secure families financially.”
India’s life insurance penetration is low compared to global markets, but the working population needs to secure their future. HDFC Life offers a range of products to meet life-stage needs and provide financial safety. The company is expanding its life insurance reach through strategic partnerships, including a tie-up with Peerless. In FY 2024, HDFC Life secured over 66 million lives with a claim settlement ratio of 99.7%.
