SRINAGAR: ICICI Prudential Life Insurance Company Tuesday said it has crossed Rs 1 lakh crore mark in Assets Under Management (AUM), becoming the first private company in the Indian life insurance industry to achieve the milestone.
“Having started operations in December 2000, the AUM garnered for the year ending March 31, 2001, was a little over Rs 100 crore. The journey over the last 14 years, since then, to Rs 1 lakh crore has been an exciting one—of protecting lives, enabling dreams, and growing together,” the company said in a press statement issued here.
It said the focus of the company has always been on customer centricity. Sandeep Bakhshi, MD & CEO of the company, said, “We are delighted to have achieved this milestone. This has been possible due to the faith reposed in us by customers, our distribution network and employees. The AUM for a life insurer qualitatively symbolizes the amount of trust placed by policyholders in the company. The technology initiatives implemented, have contributed significantly enabling us to provide better service to customers and becoming more efficient.”
“It has always been our endeavor to simplify life insurance for customers. To us, it is the barometer of the trust placed in us by all stakeholders, since life insurance is a long term product,” he added.