Private quarter insurer ICICI Prudential Life Insurance on Thursday stated its belongings under management (AUM) have crossed the Rs 2. Five-trillion mark
“This is a final result of offering customer-centric merchandise, boom in new commercial enterprise top class, enterprise-leading persistency ratios, superior customer service and handing over superior chance-adjusted returns,” the insurance enterprise said in a launch.
The organization had started out operations 22 years in the past in December 2000 and had an AUM of about Rs a hundred crore at the stop of FY2001. It took the organisation 9 years to garner an AUM of Rs 50,000 crore and 14 years to cross the Rs 1-trillion mark. “Since then, it took the corporation only six years to double its AUM to Rs 2 trillion and a bit much less than years to shore up the next Rs 50,000 crore, taking the full AUM to Rs 2.5 trillion,” the insurer stated, including its pace of increase has multiplied appreciably since it crossed the Rs 1-trillion mark, registering a increase of a hundred and fifty% in its AUM.
ICICI Prudential Life, promoted with the aid of ICICI Bank and Prudential Corporation Holdings, continues to be the non-public market chief with a market percentage of 15.7% in terms of recent commercial enterprise sum confident as on September 30, 2022, in keeping with the release.
Manish Kumar, leader funding officer, ICICI Prudential Life Insurance, stated, “We believe the belongings underneath management for a lifestyles insurer qualitatively symbolize the accept as true with placed by way of clients within the organization because existence coverage is a long-time period product…Over the closing two many years, our investment philosophy has ensured zero NPAs since inception and throughout market cycles.”
As on September 30, 2022, the employer had an AUM of Rs 2.44 trillion, and a total sum assured of Rs 26.28 trillion.