ICICI Prudential Life Insurance Company Limited 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 Life's capital stands at Rs. 4,780 crores (as of September 30, 2009) with ICICI Bank and Prudential plc holding 74% and 26% stake respectively. The total premium received by Company during the period April 1, 2009 to September 30, 2009 is more than Rs. 64.78 mn. and has underwritten over 11 million policies since inception as on September 30, 2009. The Assets held by the Company as on September 30, 2009 were Rs 500,929.3 mn.
ICICI Prudential Life is rated iAAA by ICRA, which indicates highest claims paying ability, a fundamentally strong position and the prospect of meeting policyholder obligations is the best.
For the past eight years, ICICI Prudential Life has retained its leadership position in the life insurance industry with a wide range of flexible products that meet the needs of the Indian customer at every step in life.
