HDFC Life vs Lincoln National: Founders, CEOs and History
HDFC Life was founded in 2000 by Deepak Parekh, Standard Life Aberdeen plc and is led by Vibha Padalkar. Lincoln National was founded in 1905 by Arthur F. Hall, Perry A. Randall and is led by Ellen Cooper.
Company facts
HDFC Life
- Founded
- 2000
- Headquarters
- Mumbai, Maharashtra, India
- Current CEO
- Vibha Padalkar
- Employees
- 35,000
Lincoln National
- Founded
- 1905
- Headquarters
- Radnor, Pennsylvania, United States
- Current CEO
- Ellen Cooper
- Employees
- 9,423
Founders
HDFC Life
Deepak Parekh
Deepak Parekh is widely considered one of the most powerful architects of the modern Indian financial system.
Standard Life Aberdeen plc
Standard Life (now abrdn) provided the absolute critical actuarial expertise and global insurance framework required to launch HDFC Life in 2000.
Lincoln National
Arthur F. Hall
Arthur F. Hall was the principal organizer of Lincoln National Life Insurance Company in Fort Wayne, Indiana, in 1905 and led it for decades.
Perry A. Randall
Perry A. Randall organized the founding of the Lincoln National Life Insurance Company in 1905 in Fort Wayne, Indiana.
CEOs and their tenures
HDFC Life
- Amitabh Chaudhry2010–2018
Managing Director and Chief Executive Officer
Serving as CEO from 2010 to 2018, he orchestrated the massive, multi-year turnaround of the insurer, severely cutting operating costs and heavily pivoting away from toxic unit-linked insurance plans (ULIPs).
Source - Vibha Padalkar2018–present
Managing Director & Chief Executive Officer
As CEO since 2018 (and former CFO), she heavily modernized the company's digital distribution channels, maintaining its position as a top-tier private insurer despite the massive regulatory changes in India.
Source
Lincoln National
- Jon A. Boscia1998–2007
Chairman and Chief Executive Officer
He led the 2006 merger with Jefferson-Pilot. Dennis Glass succeeded him in 2007.
Source - Dennis R. Glass2007–2022
President and Chief Executive Officer
Serving as CEO from 2007 to 2022, he guided the massive insurer through the 2008 financial crisis (securing highly controversial TARP funds) and aggressively expanded its highly lucrative annuity business.
Source - Ellen G. Cooper2022–present
Chairman, President and Chief Executive Officer
Under Cooper, Lincoln shifted sales toward less capital-intensive annuity, life, and workplace products and returned to steady adjusted operating income growth, reporting eight straight quarters of year-over-year growth through Q2 2026.
Source - Christopher Neczypor2023–present
Executive Vice President and Chief Financial Officer
As CFO, he steered the company through a brutal financial crisis in 2022 when the company was forced to take a massive $2.6 billion charge due to incredibly flawed assumptions in its life insurance reserves.
Source
Timeline: HDFC Life and Lincoln National side by side
1905Lincoln National
Lincoln National Life Founded
Arthur F. Hall and partners found Lincoln National Life Insurance Company in Fort Wayne, Indiana.
1968Lincoln National
Lincoln National Corporation Organized
The modern holding company is organized under Indiana law.
1999Lincoln National
Headquarters Move to Philadelphia
Lincoln National moved its headquarters from Fort Wayne, Indiana, to Philadelphia in 1999.
2000HDFC Life
Registration as India's First Private Life Insurer
IRDAI granted registration certificate No. 101 to HDFC Life, inaugurating the private life insurance era in India.
2004HDFC Life
Launch of Unit Linked Insurance Plans (ULIPs)
Introduced market-linked life insurance plans, enabling Indian policyholders to participate in domestic equity markets.
2006Lincoln National
Jefferson-Pilot Merger
Lincoln completes its merger with Jefferson-Pilot.
2007Lincoln National
Dennis R. Glass becomes CEO
Dennis R. Glass became CEO of Lincoln National in 2007. Led Lincoln National before Ellen Cooper succeeded him in 2022.
2009Lincoln National
TARP Investment
Lincoln National received $950 million from the US Treasury under the Troubled Asset Relief Program in 2009 and repaid it in 2010.
2010HDFC Life
Amitabh Chaudhry becomes CEO
Amitabh Chaudhry became CEO of HDFC Life Insurance Company Limited in 2010. Left to become MD and CEO of Axis Bank; Vibha Padalkar succeeded him.
2011HDFC Life
Pioneering Online Term Insurance with Click 2 Protect
Launched Click 2 Protect online, driving direct digital term life insurance adoption across India.
2017HDFC Life
IPO on NSE and BSE
Listed in November 2017 via an offer for sale of about $1.01 billion (₹8,695 crore).
2018HDFC Life
Vibha Padalkar Appointed MD & CEO
Vibha Padalkar took office as Managing Director & CEO, launching the blockbuster guaranteed savings plan Sanchay Plus.
2018Lincoln National
Liberty Mutual Group Benefits Acquired
Lincoln buys Liberty Mutual's group benefits business for about $3.3 billion.
2019HDFC Life
Renamed HDFC Life
HDFC Standard Life Insurance was renamed HDFC Life Insurance in January 2019.
2022HDFC Life
Acquisition of Exide Life Insurance
Completed the acquisition of Exide Life Insurance for 6,687 crore, expanding agency distribution in South India.
2022Lincoln National
Ellen G. Cooper Becomes CEO
Cooper becomes president and CEO.
2023HDFC Life
HDFC-HDFC Bank Mega-Merger Integration
Following the merger of HDFC and HDFC Bank, HDFC Life became a direct subsidiary of India's largest private bank.
2025Lincoln National
Bain Capital Stake Closes
Bain Capital completes an $825 million purchase of a 9.9% stake (June 2025).
2025Lincoln National
FY2025 Revenue of $18.212B
Lincoln reports $18.212 billion in total revenue, $1.177 billion in net income, and 9,423 employees.
2026HDFC Life
FY26 results and AUM above ~$46.4 billion (₹4.0 lakh crore)
FY26 profit rose 6% to ~$222 million (₹1,910 crore); Q1 FY27 profit rose 12% to ~$70.9 million (₹611 crore) with AUM of ~$46.5 billion (₹4,009 billion).
2026Lincoln National
Q2 2026 Net Income of $1.3B
Lincoln reports $1.3 billion of net income and $439 million of adjusted operating income for Q2 2026.
Acquisitions
HDFC Life
- Exide Life Insurance Company Limited2022$66.9B
- HDFC International Life and Re Company Limited2016Undisclosed
- HDFC Pension Management Company Limited2012Undisclosed
Lincoln National
- Liberty Mutual Group Benefits Business2018$3.3B
- Liberty Mutual Group Benefits2018Undisclosed
- Jefferson-Pilot Corporation2006Undisclosed
- Delaware Management Company1997Undisclosed
Questions about HDFC Life vs Lincoln National
Who is the CEO of HDFC Life Insurance Company Limited and Lincoln National Corporation?
HDFC Life Insurance Company Limited is led by Vibha Padalkar and Lincoln National Corporation is led by Ellen Cooper. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was HDFC Life Insurance Company Limited founded vs Lincoln National Corporation?
Lincoln National Corporation was founded in 1905 — 95 years before HDFC Life Insurance Company Limited, which was founded in 2000. Lincoln National Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger HDFC Life Insurance Company Limited.
How many employees does HDFC Life Insurance Company Limited have compared to Lincoln National Corporation?
HDFC Life Insurance Company Limited employs approximately 35,000 people, while Lincoln National Corporation employs approximately 9,423. HDFC Life Insurance Company Limited has the larger workforce at 35,000 employees, compared to Lincoln National Corporation's 9,423. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are HDFC Life Insurance Company Limited and Lincoln National Corporation headquartered?
HDFC Life Insurance Company Limited is headquartered in India and Lincoln National Corporation is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded HDFC Life Insurance Company Limited and Lincoln National Corporation?
HDFC Life Insurance Company Limited was founded by Deepak Parekh, Standard Life Aberdeen plc. Lincoln National Corporation was founded by Arthur F. Hall, Perry A. Randall.
Which company has a longer operating history — HDFC Life Insurance Company Limited or Lincoln National Corporation?
Lincoln National Corporation has been operating for approximately 121 years, making it the more established of the two companies. HDFC Life Insurance Company Limited has been in operation for around 26 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the HDFC Life vs Lincoln National overview