Mumbai,Dec 11:
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.
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. 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 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.