- ICICI Prudential Life Insurance Company Limited (ICICI Prudential) is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA).
About the Sponsors
About ICICI Bank: ICICI Bank Ltd (NYSE:IBN) ICICI Bank is India's second-largest bank with total assets of 4,736.47 billion (US$ 93 billion) at March 31, 2012 and profit after tax. 64.65 billion (US$ 1,271 million) for the year ended March 31, 2012. The Bank has a network of 2,755 branches and 9,363 ATMs in India, and has a presence in 19 countries, including India. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.
Established in London in 1848, Prudential plc is an international retail financial services group with significant operations in Asia, the US and the UK serving around 25 million customers, policyholder and unit holders worldwide. The company has £340 billion of assets under management (at 31 December 2010) and it is one of the best capitalised insurers in the world with an Insurance Groups Directive (IGD) capital surplus estimated at £4.3 billion (Estimated at 31 December 2010 before final dividend). Prudential is a leading life insurer in Asia with a presence in 12 markets and have the top three positions in seven key locations of Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines and Vietnam.