ICICI Prudential Life Insurance IFS gets 'AAA(ind)' rating by Fitch

Mumbai, Sept 26 (UNI) ICICI Prudential Life Insurance Co's Insurer Financial Strength (''IFS'') has obtained 'AAA(ind)' rating with Stable Outlook by Fitch Ratings.

Announcing this, Fitch press release said that the rating continues to reflect the ongoing operational and capital support received from the company's strongly rated shareholders, the currently very strong capitalisation, the important market position built by the company in the last five years and the company's strong focus on introduction of best business practices.

However, at the same time, the company faces challenges because of its short track record and it is yet to become profitable. As the majority of its business is unit-linked, ICICI Prudential continues to have significant exposure to investment market volatility, both in terms of fee income and levels of new business.

UNI SN PM SKB1843