ICICI Prudential Life Insurance has crossed ₹2.5 lakh crore in assets under management, nearly 8 years after it first crossed the milestone of ₹1 lakh crore AUM, and 22 years since it started operations in December 2000.
The growth has been led by the offering of customer-centric products, growth in new business premium, industry-leading persistency ratios, superior customer service and superior risk-adjusted returns, the company said in a release.
ICICI Prudential Life continues to be the private market leader with a market share of 15.7 per cent in terms of new business sum assured as of September 30, it said.
“We believe the Assets under Management for a life insurer qualitatively symbolise the trust placed by customers in the company since life insurance is a long-term product,” said Chief Investment Officer Manish Kumar.
The company has a stringent investment philosophy for long-term financial goals, ensuring zero NPAs since inception and across market cycles, he said, adding that the insurer has also integrated ESG factors into the business.