April 25, 2014 5:45 AM 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

12,850 Employees

Phone:

91 22 6662 1600

Fax:

91 22 2422 8955

Key Executives for ICICI Prudential Life Insurance Company Ltd.

Managing Director
Chairman
Age: 51
Chairman of ICICI Lombard General Insurance Company Limited
Age: 65
Chief Financial Officer
Age: 47
Chief Executive Officer of ICICI Lombard General Insurance and Managing Director of ICICI Lombard General Insurance
Age: 47
Compensation as of Fiscal Year 2013.

ICICI Prudential Life Insurance Company Ltd. Key Developments

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.

ICICI Prudential Life Insurance Company Ltd. Presents at Citi Global Financial Conference 2013, Nov-19-2013

ICICI Prudential Life Insurance Company Ltd. Presents at Citi Global Financial Conference 2013, Nov-19-2013 . Venue: Conrad Hotel, Hong Kong, Hong Kong. Speakers: Binay Agarwala, Executive Vice President, Puneet Nanda, Executive Vice President, Chief Investment Officer, Executive Director and Member of Investment Committee.

Shriram Reportedly To Bid For HSBC's 26% in Canara HSBC

Shriram Capital Limited is reportedly bidding to acquire 26% stake in Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited from HSBC Holdings plc (LSE:HSBA), senior officials from Shriram Group Pvt. Co. and two other industry representatives, who are familiar with the deal said. Shriram Capital has reportedly hired Axis Capital Markets India Ltd. (BSE:531278) for the transaction. The purchase of HSBC's stake in Canara HSBC Oriental Bank of Commerce Life Insurance Company and a subsequent merger of Shriram Life Insurance Company Limited with it will propel Shriram to under 10 ranking, based on current financials, from 18, said the person who did not want to be identified. According to Economic Times, Shriram declined to comment and Axis had not responded to a mail seeking comment. The other competitors for the stake are Manulife Financial Corporation (TSX:MFC), HDFC Standard Life Insurance Co., Ltd. and ICICI Prudential Life Insurance Company Ltd. An executive said, "This is an opportunity for Shriram Life. We see value in the deal as there are two large banks." According to industry sources, Shriram had a better opportunity compared with the HDFC Standard Life and ICICI Prudential Life, who want to acquire 100% stake in Canara HSBC Oriental Bank of Commerce Life Insurance Company which Canara Bank Limited (BSE:532483) and Oriental Bank of Commerce (BSE:500315) are objecting. Shriram and Manulife stand a better chance of completing the transaction as they do not face obstacles, unlike ICICI, or HDFC Life as insurance regulator mandates that no licence holder could operate two companies and if there is a owner with stakes in two, they should be merged.

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No transactions available in the past 12 months.
 

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