- A symbol of the trust reposed in the company by the policyholders
- Has a track record of zero NPA since inception
- The company continues to enable customers to achieve their financial goals
MUMBAI: ICICI Prudential Life Insurance Company has crossed the milestone of ₹ 2.5 lakh crore in Assets Under Management (AUM), an important symbol of the trust reposed in the company by its customers. This is the result of providing customer-centric products, growth in new business premiums, industry-leading continuity ratios, superior customer service and risk-adjusted returns.
The company started operations 22 years ago in December, 2000 and had an AUM of approximately ₹ 100 crore at the end of FY 2001. It took the company nine years to achieve an AUM of ₹50,000 crore and in 14 years the company crossed the ₹1 lakh crore milestone.
It then took six years for the company to double its AUM to ₹2 lakh crore till now and then increased it by another ₹50,000 crore in just two years, taking the total AUM to ₹2.5 lakh crore. After the company crossed the ₹ 1 lakh crore milestone, its growth accelerated and its AUM grew by 150 percent. ICICI Prudential Life continues to be the leader in the private market with a market share of 15.7 per cent in terms of new business sum assured as on September 30, 2022.
Life insurance plays an important role in society by enabling families to obtain financial security. This larger objective of making a difference in people’s lives and livelihoods drives the company’s way of doing business. As a large and responsible life insurance company, we also incorporate environmental, social and governance (ESG) factors into our operations.
Mr. Ashish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance said, “We are delighted to achieve this milestone, especially in our 22nd year of operations. We believe that assets under management for a life insurance company is a symbol of the trust placed by customers in the company, as life insurance is a long-term product.
We have an effective and rigorous investment philosophy, as clients trust us with their hard-earned savings to achieve their long-term financial goals. Our investment philosophy during the last two decades has ensured zero NPA in all market cycles since inception.
Integrating ESG factors into our business is one of the core areas of our operations. Demonstrating our commitment to ESG issues, we became the first Indian insurance company to sign the United Nations-backed Principles for Responsible Investment. We are also the first life insurance company to launch an ESG-focused fund ‘Sustainable Equity Fund’.
Driven by our vision of ‘building a sustainable organization that sensitively meets the insurance and long-term savings needs of the customer’, we always strive to provide products and solutions that enable our customers to provide financial security to their families.”
The company has launched several advanced digital solutions, which enable customers to access information and perform policy-related transactions conveniently from their homes. Also innovative product range, multi-channel distribution structure and superior customer service enable the company to become the life insurance partner of choice for customers.