ICICI prudential Life insurance company

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ICICI prudential Life insurance company is the joint venture between India’s second largest bank ICICI and Prudential Plc, one of the worlds foremost finance group.

For an average Indian brand ICICI needs no introduction as they are present in almost all the financial field starting from core-banking to mutual fund, Housing loan to credit cards.

Prudential Plc whose headquarter is at UK, is also one of the leading financial group.

The Prudential Insurance Company of America, is one of the largest life insurance companies in the U.S. Similar to ICICI their product includes mutual funds annuities, real estate brokerage franchises, relocation services, and more.

Currently ICICI bank holds 74% stack in theis joint venture and rest is held by Prudential Plc.

They began their operation in late 2001. Today with nearly 2000 branches, over 261,000 advisors and 24 bank assurance partner, they have very strong presence in entire India.

ICICI Prudential Life is also the only private life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest rating, and is a clear assurance of ICICI Prudential's ability to meet its obligations to customers at the time of maturity or claims.

As of Sept-2008, Among Private Players ICICI Prudential Life is at the top with market share of 8.2%for Individual New Business, They are also at the top with respect to Group business with market share of 6.2%.

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