V. Vaidyanathan is ICICI Prudential Life's new Managing Director & CEO

Mumbai, May 11, 2009: ICICI Prudential Life has appointed Mr. V. Vaidyanathan as the Managing Director & Chief Executive Officer of the company with effect from May 01, 2009. He replaces Ms. Shikha Sharma in this position. Mr. Vaidyanathan was earlier an Executive Director with ICICI Bank and brings with him nearly two decades of experience in the financial services domain. He was also the chairman of ICICI Home Finance Company, and has served on the boards of ICICI Lombard General Insurance, and CIBIL, India's first credit bureau.

Since joining the ICICI Group in the year 2000, he has built a strong retail banking business which includes 1400 ICICI bank branches in 800 cities, 25 million customers, USD 30 bn in assets, a strong liability base, and a team of 26000 employees. His contribution has been well recognised in the ICICI Group and won him many awards in the banking industry. He was recently profiled among 'India's Top 25 executives' by a leading business magazine in India. Mr. Vaidyanathan is an alumnus of Birla Institute of Technology and Harvard Business School, AMP.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For FY09, the company garnered Rs. 15,356 crores of total premiums and has underwritten over 9 million policies since inception. The company has a network of 2,099 offices and 272,920 advisors. For the past eight years, ICICI Prudential has maintained its dominant position amongst life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com

Source : Equity Bulls

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