HDFC Life Insurances subordinate debt program of Rs 2,000 crore has received an [ICRA] AAA (Stable) rating and a CARE AAA (Stable) rating from credit agencies, reinforcing its strong market position and healthy financial profile. The company, backed by HDFC Bank, has a market share of 10.4% and a solvency ratio of 1.86 times, well above the regulatory requirement of 1.5 times.