Summer Process - Company SnapShot ICICI Prudential

Overview

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank - one of India's foremost financial services companies-and prudential plc - a leading international financial services group headquartered in the United Kingdom. Total capital infusion stands at Rs. 47.80 billion, with ICICI Bank holding a stake of 74% and Prudential plc holding 26%.

Company began its operations in December 2000. Today, its nation-wide team comprises of 2074 branches (inclusive of 1,116 micro-offices), over 225,000 advisors; and 7 bancassurance partners.

Achievements:

· ICICI Prudential is the first life insurer in India to receive a National Insurer Financial Strength rating of AAA (Ind) from Fitch ratings.

· For three years in a row, ICICI Prudential has been voted as India's Most Trusted Private Life Insurer, by The Economic Times - AC Nielsen ORG Marg survey of 'Most Trusted Brands'.

Our vision:

To be the dominant Life, Health and Pensions player built on trust by world-class people and service.

This we hope to achieve by:

· Understanding the needs of customers and offering them superior products and service

· Leveraging technology to service customers quickly, efficiently and conveniently

· Developing and implementing superior risk management and investment strategies to offer sustainable and stable returns to our policyholders

· Providing an enabling environment to foster growth and learning for our employees

· And above all, building transparency in all our dealings

Our values :

Every member of the ICICI Prudential team is committed to 5 core values: Integrity, Customer First, Boundaryless, Ownership, and Passion. These values shine forth in all we do, and have become the keystones of our success.

Promoters

ICICI Bank

ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank and the second largest bank in the country with consolidated total assets of about US$ 95 billion as of March 31, 2009. 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. ICICI Bank’s presence currently spans 19 countries, including India.

Prudential Plc

Established in London in 1848, Prudential plc is a leading internal retail financial services group with significant operations in Asia, the US and the UK. Prudential has been writing protection and savings insurance for over 160 years, and today has more than 21 million customers worldwide and over 249 billion in assets under management (as of December 31, 2008). In Asia, Prudential is the leading Europe-based life insurer with operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential is one of the largest asset management companies in terms of overall assets sourced in Asia ex-japan, with ?36.8 billion funds under management (as of December 31, 2008) and operations in ten markets including China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates.

Products:

· Insurance Solutions for Individuals

· Savings & Wealth Creation Solutions

· Protection Solutions

· Child Plans

· Retirement Solutions

· Health Solutions

· Group Insurance Solutions

· Flexible Rider Options