ICICI Prudential Life Insurance Company Ltd
ICICI Prudential Life Insurance Company Ltd (ICICIPRULI)

ICICI Prudential Life Insurance Company Ltd (ICICIPRULI)

₹529.290.07%

Key Stats

₹526.5
Day's Price Range
₹534.1
₹430
52-Week Price Range
₹724.3
1 Month Return-1.01 %
3 Month Return10.77 %
1 Year Return0.29 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 2
100.17
EPS
Rank 2
₹5.28
BVPS
Rank 2
₹84.12
Dividend Yield
Rank 1
0.45%
ROE
Rank 4
11.79%
Price To Book Ratio
Rank 1
6.28
Debt To Asset
Rank 3
0.94

Company Information

ICICI Prudential Life Insurance Company Limited was incorporated on 20th July 2000 as a public limited company. The Company obtained the Certificate of Commencement of Business on October 16 2000. The holding company is registered with the Insurance Regulatory and Development Authority of India IRDAI for carrying out the business of life insurance pursuant to the registration certificate dated November 24 2000. ICICI Prudential is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. It is one of the first private sector life insurance companies in India and commenced operations in fiscal 2001. The holding company carries on business of providing life insurance pensions and health insurance to individuals and groups. Riders providing additional benefits are offered under some of these products. The business is conducted in participating nonparticipating nonparticipating variable and unit linked lines of businesses. These products are distributed through individual agents corporate agents banks brokers and the holding companys proprietary.In 200102 ICICI Prudential Life Insurance crossed the mark of 1 lakh policies. During the year 200405 the company crossed the mark of 1 million policies. During the year 200708 the company crossed the mark of 5 million policies. Also during the year its total premium crossed Rs 10000 crore mark and the assets under management crossed Rs 25000 crore mark. During the year 200910 the company established a wholly owned subsidiary ICICI Prudential Pension Funds Management Company Limited which is registered as a fund manager with the Pensions Fund Regulatory and Development Authority of India for the purposes of undertaking pension funds related business. During the year ICICI Prudential Life Insurance turned profitable and registered profit of Rs 258 crore. During the year the companys assets under management crossed Rs 50000 crores mark. During the year 201112 the company announced maiden dividend to the shareholders. During the year 201415 ICICI Prudential Life became the first private life insurer to attain assets under management of Rs 1 lakh crore.ICICI Prudential Life Insurance Companys initial public offer IPO opened for subscription on 19 September 2016 and closed on 21 September 2016. One its promoters ICICI Bank offered 18.13 crore shares in the price band from Rs 300 to Rs 334 per share in the IPO. There was no fresh issue of shares from ICICI Prudential Life Insurance Company. On 29 September 2016 ICICI Prudential Life was listed on the bourses and it became the first pure play life insurance company in India to be listed on the Indian stock exchanges. On 27 March 2017 ICICI Prudential Life announced that the Insurance Regulatory and Development Authority of India IRDAI has levied a penalty of Rs 20 lakh on the company. Earlier the IRDAI had conducted an onsite inspection of the company in December 2013 and subsequently the insurance sector regulator raised certain observations which were followed by a showcause notice to the company. On 28 July 2017 ICICI Prudential Life announced that it has received an order from Insurance Regulatory and Development Authority of India IRDAI directing it to take over the assets and policyholders liabilities of Sahara Life Insurance. This is not a merger between the two companies but purely a transfer of customers of Sahara Life Insurance to ICICI Prudential Life. On 27 November 2017 ICICI Prudential Life Insurance Company Limited ICICI Pru Life announced that it has implemented the Electronic National Automated Clearing House eNACH service of the National Payment Corporation of India. ICICI Pru Life is the first life insurance company in India to offer this service to its customers. The eNACH mandate service is a digital registration process wherein a customer issues a mandate to the bank for his/her account to be debited at predetermined frequencies. eNACH service is the most modern and paperless form for making regular payments.The total gross premium collected by the Company grew by 21.1 from Rs 223.54 billion in FY2017 to Rs 270.69 billion in FY2018. The Companys assets under management at 31 March 2018 was Rs 1395.32 billion as against Rs 1229.19 billion in the previous year.The Value of New Business grew from Rs 6.66 billion in FY2017 to Rs 12.86 billion in FY2018 representing an increase of 93.1.ICICI Prudential Life Insurance was recognised and awarded the Best Term Insurance Provider of the Year by Money Today Financial Awards 201718.The total premium collected by the Company grew by 14.3 from Rs 270.69 billion in FY2018 to Rs 309.30 billion in FY2019. The Companys assets under management at 31 March 2019 were Rs 1604.10 billion.The Value of new business grew from Rs 12.86 billion in FY2018 to Rs 13.28 billion in FY2019 representing an increase of 3.3.The Company reaches its customers through 508 offices in 446 locations as at 31 March 2019.The new business received premium grew by 20.4 from Rs 102.52 billion in FY2019 to Rs 123.48 billion in FY2020.The retail renewal premium increased by 2.2 from Rs 202.25 billion in FY2019 to Rs 206.64 billion in FY2020. The Companys assets under management at 31 March 2020 were Rs 1529.68 billion.The Value of New Business VNB grew from Rs 13.28 billion in FY2019 to Rs 16.05 billion in FY2020 representing an increase of 20.9.The company Adjudged Customer Service Company of the year by India Insurance Summit Awards 2020.Also Adjudged best Alternative or Digital Payments Programme of the year by the Customer Fest Leadership Awards 2020.The new business received premium grew by 5.5 from Rs 123.48 billion in FY2020 to Rs 130.32 billion in FY2021.The retail renewal premium increased by 6.3 from Rs 206.64 billion in FY2020 to Rs 219.58 billion in FY2021. During the year 202021 the Companys assets under management crossed Rs 2 trillion and stood at Rs 2.14 trillion at 31 March 2021. The Value of New Business grew from Rs 16.05 billion in FY2020 to Rs 16.21 billion in FY2021 representing an increase of 1.0.The Company reaches its customers through 517 offices in 449 locations as of 31 March 2021.The new business premium was Rs 25.59 billion for the quarter ended 30 June 2021 a growth of 70.6 as compared to Rs 14.99 billion as at 30 June 2020.The Value of New Business VNB for was Rs 3.58 billion for the quarter ended 30 June 2021 a significant growth of 78.1 over the first quarter of FY2021.The total assets under management of the Company was Rs 2231.71 billion at 30 June 2021 which makes it one of the largest fund managers in India. The Company had a debtequity mix of 53:47 at 30 June 2021.The new business premium was Rs 64.61 billion at the end of first half of FY2022 a growth of 45.0 as compared to Rs 44.56 billion at the end of first half of FY2021.The total assets under management of the Company was Rs 2370.87 billion at 30 September 2021 which makes it one of the largest fund managers in India. The Company had a debtequity mix of 52:48 at 30 September 2021 and 97 of the debt investments are in AAA rated and government bonds.The total assets under management of the Company was Rs 2375.60 billion at 31 December 2021 which makes it one of the largest fund managers in India. The Company had a debtequity mix of 52:48 at 31 December 2021. 97.8 of the debt investments are in AAA rated and government bonds.
OrganisationICICI Prudential Life Insurance Company Ltd
HeadquartersMumbai
IndustryInsurance