ICICI Prudential Life Insurance Company’s Assets Under Management cross 3 lakh crore

August, 2024: ICICI Prudential Life Insurance Co. Ltd., has achieved a significant milestone of crossing ` 3 lakh crore in Assets Under Management (AUM). The Company’s AUM as of July 31, 2024, stood at ` 3.14 lakh crore.

Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, “We are delighted to have crossed the milestone of ` 3 lakh crore in assets under management. This signifies customers preference for our products and their trust in us to enable them to achieve their long-term financial goals. Our approach of simplifying products and processes has been one of the factors driving the growth in our assets under management.

Customers depend on us to provide financial security to themselves and their families. We therefore act as trustees and custodians of our customers savings and have put in place a stringent investment philosophy and risk management framework. This approach has ensured we have not had any Non-Performing Assets since inception of the Company and across market cycles.”

Mr. Bagchi further added, “We believe, life insurance caters to the primary needs of society of financial security, wealth creation and retirement income, therefore our products and processes are aligned to fulfil these needs. The technology solutions implemented have helped us to simplify life insurance, develop innovative products and offer the right product to the right customer at the right price through the right channel to deliver enhanced customer experience. Our commitment to deliver on the promises made is reflected in our claim settlement ratio of 99.17% in FY2024, one of the best in the industry, with a turnaround time of just 1.27 days.”