ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company Ltd.
Private company
Industry Insurance Services
Founded 12 December 2000
Headquarters Mumbai, India
Area served
 India
Key people
  • Sandeep Bakhshi (Managing Director & Chief Executive Officer),
  • Puneet Nanda (Chief Marketing Officer),
  • Sandeep Batra (Executive Director),
  • Satyan Jambunathan (Executive Vice President),
  • Manish Kumar (Chief Investment Officer),
  • Navin Sharma (Chief Internal Audit),
  • Binay Agarwala (Chief Financial Officer & Chief Risk Officer- Enterprise Risk),
  • Deepak Kinger (Chief Compliance Officer),
  • Poonam Bhardwaj (Chief Risk Officer- Operations Risk)
Products Insurance
Total assets ₹100,000 crore (US$15 billion) (2014)
Website www.iciciprulife.com

ICICI Prudential Life Insurance Company Ltd. is a life insurance company based in India. As of 2015 it reported assets of over Rs. 100,000 Cr.[1]

History

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc, a leading international financial services group headquartered in the United Kingdom.[2] ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory and Development Authority of India (IRDAI).[3] As of 2010, the managing director and CEO was Sandeep Bakhshi.[4]

Financials

ICICI Prudential Life's capital infused stands at Rs. 48.16 billion (as of March 31, 2015) with ICICI Bank Ltd. and Prudential plc holding 68% and 32% stake respectively . For the financial year 2015, the company garnered a total premium of Rs. 153.07 billion. The company has assets under management of Rs. 1001.83 billion as on March 31, 2015.[5][6]

References

  1. ↑ Times of India (Feb 24, 2015). "ICICI Pru Life's assets cross Rs 1 lakh crore on Ulips". Times of India.
  2. ↑ Economic Times (Feb 13, 2015). "ICICI Bank, Prudential Plc plan to sell 5% stake in insurance JV at $6 billion valuation". Economic Times.
  3. ↑ "ICICI Bank to sell 6% in life insurance arm for Rs 1,950 cr". The Financial Express. November 17, 2015.
  4. ↑ "ICICI names Sandeep Bakshi as ICICI Pru Life MD & CEO". Business Standard. August 1, 2010.
  5. ↑ "About ICICI Prudential Life Insurance". I LOVE INDIA. I LOVE INDIA.
  6. ↑ "ICICI Prudential Life Insurance Abou PDF" (PDF). IBS India - Indian Business School. IBS India - Indian Business School.
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