ICICI Prudential Life musters 68 per cent growth

Jaipur, May 13 (UNI) Maintaining its leading position among private insurance companies, for the past seven years, ICICI Prudential Life Insurance has earned retail new business weighted premium of Rs 6,684 crore during financial year 2007-2008 registering impressive growth of 68 per cent over the preceeding year.

''The company has completed seven full years of operations in the country during which period it sold over seven million policies and crossed Rs 28,000 crore in assets held,'' the company Senior Vice President and Customer Service Head Poonam Bhardwaj said.

Ms Bhardwaj told reporters here that as compared to 2006-2007 the company had tripled its branch network in 2007-2008. Today the company had 1950 branches in 1665 cities accross the country.

The company's foray into rural segment saw significant growth during 2007-2008, as company had not only opened 1,000 rural branches in 12 states, but had also launched first-of-its-kind service initiativwes with key state governed institutes to increase convenience amongst rural customers.

In 2007-2008, ICICI Prudential Life tied up with the Department of Posts in Andhra Pradesh, Uttar Pradesh, Punjab and Gujarat as will as South Inidian Bank in Kerala, to provide convenient premium paying facilities to the customers.

The company had launched unique products like hospital care and crises covers, alongwith second generation ULIP products like LifeStage RP and LifeStage Pension, Ms Bhardwaj said.

UNI SS BJR RN1648