Thrissur; August 11, 2003

 - Number of offices in Kerala goes up to three -

ICICI Prudential Life Insurance, India''s leading private life insurer, today opened its branch office in Thrissur, one of the prominent towns in Kerala. This office, at Perincherrys Building, Thrissur Round, Thrissur is ICICI Prudential''s third office in the state.  With this branch, ICICI Prudential has spread its wings to 32 cities and towns in the country.

Speaking at the inauguration, Ms Shikha Sharma, CEO & Managing Director, ICICI Prudential said, 'As a leader amongst private life insurer, our strategy is to expand our presence across the country in a systematic manner.  ICICI Prudential has already established a strong presence in Kerala, particularly through the bancassurance model, and we expect to see substantial growth in our business from the Thrissur branch'.

ICICI Prudential is the No. 1 private life insurance player in India, with over 30% market share amongst all private players and 23% of the total pensions market. Kerala has already emerged as a strong base for the company and with Thrissur branch, the company is confident of catering to the vast customer base in the central parts of the state. 

The new branch will also open up a host of job opportunities within the sales and operations areas; as well as for those seeking to be life insurance advisors.  There are already about 1200 ICICI Prudential advisors in Kerala. Bancassurance has also emerged as an important distribution channel in the state, with the company''s tie-ups with South Indian Bank and Federal Bank spearheading the growth since May 2002.

In recent times, insurance has graduated from being viewed as a mere tax saving tool, to a versatile protection-oriented and wealth creation investment tool that also offers tax benefits. ICICI Prudential offers a variety of need-based insurance solutions to suit the varied needs of individuals at different stages in their lives - be it securing the future of their families, asset accumulation, providing for their children, or saving for their retirement. Each product can be customised to meet specific life-stage requirements, and is sold after assessing the needs and aspirations of the customers.

The company pioneered the highly flexible market-linked plans, which give investors complete control over their policies  - to change their protection and investment levels, to switch between funds and other benefits. LifeTime, LifeLink and retirement plans like LifeTime Pension and LifeLink Pension are some such plans suitable for long-term savings and asset accumulation. Another unique offering is Smart Kid - an ideal product to plan and provide for a child''s higher education, whatever the uncertainty.