MUMBAI, India, Aug. 11, 2025 /PRNewswire/ — As the Indian private life insurance industry enters into its 25th year and marches towards the shared vision of ‘Insurance for All by 2047’, HDFC Life and Northern Arc Capital have come together to forge a strategic partnership. This partnership would enable Northern Arc Capital to offer individual as well as group life insurance solutions by HDFC Life to its customers.
The synergy between Northern Arc’s grassroots penetration and HDFC Life’s strong and diversified product suite will provide comprehensive financial protection to underserved segments nationwide, empowering individuals and contributing to India’s financial resilience.
Northern Arc Capital has been focused on enabling financial inclusion since 2009, facilitating over ₹2.2 trillion in financing and impacting more than 124 million lives directly and through its originator and retail lending partners.
HDFC Life is one of the first private life insurers to get licence in the year 2000. In its 25th year of business, the Company has sustained its position among the leading life insurers through product innovation and a customer-focused approach. Its commitment to customers is reflected in its consistently high claim settlement ratio – 99.68%* in FY’25. Having secured more than 50 million lives across the country in FY’25, HDFC Life continues to educate individuals and create greater awareness on the importance of financial protection.
Speaking on the partnership, Ashish Mehrotra – MD & CEO, Northern Arc Capital, said, “At Northern Arc, we’ve always believed that financial security begins with access and grows stronger with protection. Over the years, we’ve built a distribution network that spans 691 districts, working closely with over 350 originator partners. Through our 369 branches and 54 retail lending partners, we’ve served more than 2 million customers as of June 30, 2025. This partnership with HDFC Life allows us to deepen that impact by offering life insurance solutions that complement our credit offerings, helping households and businesses across the country build a more secure financial future. Together, we aim to strengthen the financial foundation of India, one family and enterprise at a time.”
Speaking on the partnership, Vibha Padalkar – MD & CEO, HDFC Life, commented, “There is a need for financial security across a large section of our population. This partnership with Northern Arc Capital further adds value to our multi channel distribution strategy and enhances our geographical footprint by leveraging their extensive network and strong connections with over 200 plus Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs). This collaboration enables us to provide life insurance solutions across retail and credit life products throughout India. Through our simple and customisable products, tech-led platforms and superior levels of service, we aim to reach more individuals and groups looking to secure themselves and their loved ones, financially. We remain committed to the collective goal of ‘Insurance for All by 2047’.”
*Death claim settlement ratio for individual life policies
About HDFC Life:
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 over 70 products (individual and group products) including 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 500, comprising banks, NBFCs, MFIs, SFBs, brokers, new ecosystem partners amongst others. The Company has a strong base of financial consultants.
For more information, please visit www.hdfclife.com. You may also connect with us on Facebook, Twitter, YouTube and LinkedIn.
About Northern Arc:
Northern Arc is one of the leading players amongst India’s diversified NBFCs in terms of AUM as of March 31, 2024^ dedicated to empowering the lives of underserved individuals and businesses. Powered by technology and data, Northern Arc offers a suite of solutions including lending, placements, and fund investments in key sectors like MSME Financing, MFI, Consumer Financing, Vehicle Financing, Affordable Housing Financing, and Agricultural Supply Chain Finance. Since 2009, Northern Arc has facilitated the financing of over INR 2.2 trillion cumulatively, for its clients, spread across 691 districts in 28 states and 7 Union Territories in India. Our work, including that of our originator partners, has impacted the lives of over 124 million people.
Northern Arc handles an AUM of INR 16,525 crores through its balance sheet and active AIF funds as of June 30, 2025. The firm is backed by marquee equity investors like IFC, Sumitomo Mitsui Banking Corporation, LeapFrog, Accion, Affirma Group, Dvara Trust, and Eight Roads (a proprietary arm of Fidelity).
^Source: Report titled “Analysis of NBFC sector and select asset classes” dated June 2024 prepared and released by CRISIL Research
*Disclaimer: All the numbers stated in the boilerplate are as of June 30, 2025.
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