ICICI Pru sells 3 lakh policies, earns Rs 470-crore premium
By Our Banking Bureau | 24 Mar 2003
Mumbai: ICICI Prudential Life Insurance has sold more than 3 lakh policies and earned a premium of Rs 470 crore. The company sold 1 lakh policies during the last four months.
According to the company, the single largest growth driver is its pension policy, followed by market-linked and children policies. Apart from individual agents, alternate distribution channels — bancassurance and corporate agents — contributed over 35 per cent of the business.
As of January 2003, the company's market share among private players stood at 38 per cent and the overall market share stood at 4 per cent. The company recently opened its branches in Ludhiana and Jalandhar.