September 21, 2014 1:35 PM ET

Insurance

Company Overview of ICICI Prudential Life Insurance Company Ltd.

Company Overview

ICICI Prudential Life Insurance Company Limited provides life insurance, pensions, and health insurance to individuals and groups in India. The company offers participating, non-participating, and unit linked products. It provides insurance products for individuals, such as savings and wealth creation, protection, child, retirement, and health insurance plans. The company also offers group insurance solutions for companies, including group gratuity plan, group leave encashment plan, and group term plan. In addition, it provides flexible rider options comprising accident and disability benefit, critical illness benefit, income benefit rider, waiver of premium rider, and waiver of premium ride...

ICICI Pru Life Towers

1089, Appasaheb Marathe Marg

Prabhadevi

Mumbai,  400025

India

Founded in 2000

10,700 Employees

Phone:

91 22 6662 1600

Fax:

91 22 2422 8955

Key Executives for ICICI Prudential Life Insurance Company Ltd.

Managing Director
Chairman of ICICI Lombard General Insurance Company Limited
Age: 66
Chief Financial Officer
Age: 48
Chief Executive Officer of ICICI Lombard General Insurance and Managing Director of ICICI Lombard General Insurance
Age: 48
Chief Executive Officer of ICICI Ventures and Managing Director of ICICI Ventures
Age: 45
Compensation as of Fiscal Year 2014.

ICICI Prudential Life Insurance Company Ltd. Key Developments

ICICI Prudential Life Insurance Company Announces Earnings Results for the First Quarter Ended June 30, 2014

ICICI Prudential Life Insurance Company announced earnings results for the first quarter ended June 30, 2014. For the quarter, the company announced profit after tax was INR 3,820 million ($63 million) compared to INR 3,640 million ($60 million) for the same period a year ago. The company’s annualized premium equivalent (APE) was INR 6,590 million ($110 million) compared to INR 5,410 million ($90 million) in the same period a year ago.

Standard Chartered Bank and ICICI Prudential Life Sign Banc assurance Partnership

ICICI Prudential Life Insurance announced that it has entered into a strategic banc assurance partnership with Standard Chartered Bank. Standard Chartered and Prudential are in an agreement to expand the term and geographic scope of their pan-Asian banc assurance partnership. The new 15-year-agreement covers India and 10 other markets and it commenced on July 1, 2014. Under the terms of this agreement, Standard Chartered Bank will distribute a wide range of ICICI Prudential Life's comprehensive life insurance products through its network of 99 branches across 42 cities.

ICICI Prudential Life Launches Unit-Linked Plan ICICI Pru Guaranteed Wealth Protector

ICICI Prudential Life launched a unit-linked plan ICICI Pru Guaranteed Wealth Protector. The unit linked plan allows customers to protect their capital on maturity and have a potential for upside through an exposure to equities. The product provides for exposure to an equity-oriented fund of up to 60% for customers aged below 45 years, and up to 45% for customers above this age limit, while ensuring that premiums paid are protected.

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