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ICICI Prudential Life Insurance Company is a
joint venture between ICICI Bank, a premier
financial powerhouse and Prudential plc, a leading
international financial services group headquartered
in the United Kingdom. ICICI Prudential was
amongst the first private sector insurance companies
to begin operations in December 2000 after receiving
approval from Insurance Regulatory Development
Authority (IRDA).
ICICI Prudential's equity base stands at Rs.
11.85 billion with ICICI Bank and Prudential
plc holding 74% and 26% stake respectively.
In the financial year ended March 31, 2005,
the company garnered Rs 1584 crore of new business
premium for a total sum assured of Rs 13,780
crore and wrote nearly 615,000 policies. The
company has a network of about 56,000 advisors;
as well as 7 bancassurance and 150 corporate
agent tie-ups. For the past four years, ICICI
Prudential has retained its position as the
No. 1 private life insurer in the country, with
a wide range of flexible products that meet
the needs of the Indian customer at every step
in life. |
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