ICICI Pru Life crosses Rs 500 crore premium income mark
By Our Banking Bureau | 10 Apr 2003
Mumbai: ICICI Prudential Life Insurance has crossed the Rs 500-crore premium income mark on 31 March 2003, having issued nearly 3,50,000 policies, for a sum assured of Rs 8,700 crore, since its inception.
The last fiscal had seen significant growth for ICICI Prudential across all segments, with 2,46,827 policies issued in the period April 2002-March 2003, and Rs 348 crore premium from new business in the same period, a 200-per cent growth over the previous fiscal (April 2001-March 2002).
The company had also met all its rural and social sector obligations. The growth been driven by pensions and unit-linked products. It has garnered 23 per cent of pensions premium among all players for the period April 2002-February 2003 and 34 per cent in February 2003 alone.
