ICICI Prudential Life Insurance Company's Assets under Management cross Rs. 2 lakh crore in 20th year

ICICI Prudential Life Insurance Company's Assets under Management (AUM) have crossed Rs. 2 lakh crore. This milestone has been achieved by the Company in its 20th year.

The Company started operations 20 years ago with the issuance of policies to seven underprivileged children. It had an AUM of approximately Rs. 100 crore in FY 2001, which grew to about Rs. 50,000 crore in FY2010 and subsequently the Company was the first in the insurance industry to achieve an AUM of Rs. 1 lakh crore in February 2015.

Mr. N S Kannan, MD & CEO, ICICI Prudential Life Insurance said, "We are delighted to achieve this milestone of managing Rs. 2 lakh crore of assets. It demonstrates our steadfast focus on customer-centricity and the trust reposed in us by our customers. It also symbolizes the commitment of our employees, distributors and other stakeholders to keep the customer at the core of every initiative implemented. We continue to be guided by our vision of building an enduring institution which serves the protection and long-term savings needs of customers with sensitivity. As one of the largest life insurance companies in the country it is our mission to protect and provide financial security to every Indian."

In its 20-year journey, the Company has changed several industry paradigms and was the first life insurance company to list on the Indian stock exchanges. Due to its stringent investment philosophy, the company has had no NPAs since inception and across market cycles.

Shares of ICICI Prudential Life Insurance Company Ltd was last trading in BSE at Rs.496.5 as compared to the previous close of Rs. 496.65. The total number of shares traded during the day was 111786 in over 3860 trades.

The stock hit an intraday high of Rs. 503 and intraday low of 490.4. The net turnover during the day was Rs. 55741507.

Source : Equity Bulls

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