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ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential Plc. of the United Kingdom. The company began its life insurance operations in December 2000.
ICICI Bank is one of India's leading banks in India and among the largest private sector banks to operate in the country. ICICI Bank is currently present in 19 countries, including India. The company has a large distribution network of 2033 branches across the country. The ICICI group has an established presence in banking, broking and investment banking to name a few apart from banking and insurance. Prudential Plc, a leading internal retail financial services group with significant operations in Asia, the US and the UK, has been writing protection and savings insurance for over 160 years. It has also established its strong credibility across the globe.
ICICI Prudential Life Insurance Company has setup a large distribution network of almost 1900 branches with an army of 2,10,000 advisors selling their life insurance policies. This along with the reach of ICICI bank and 7 other bancassurance partners make it a formidable player in the life insurance sector in India. It is also among the earliest private life insurance companies to start operations in India. Currently it is among the largest life insurance players in the country and among the few private life insurance companies which are profitable.
Mr. N. S. Kannan is the Managing Director & CEO of ICICI Prudential Life Insurance Company.
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Claims ratio | 96.53 | 96.29 | 94.10 | 93.80 | 96.20 | 96.68 | 97.88 | 97.88 | Yet to be published |
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Market share | 3.9 | 4.5 | 3.1 | 4.7 | 4.9 | 4.5 | 4.5 | - | Yet to be published |
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