ICICI Prudential registers 97 per cent growth

ICICI PRUDENTIAL Life Insurance has earned new business weighted premium of Rs 2,722 crore during the period of April-December 2006, registering a growth of 97 per cent, over the corresponding period in the previous year.

ICICI PRUDENTIAL Life Insurance has earned new business weighted premium of Rs 2,722 crore during the period of April-December 2006, registering a growth of 97 per cent, over the corresponding period in the previous year.

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During the period, the company has written over 1.1 million new policies and the assets held by the company stands at over Rs 13,459 crore as of December 31,2006. “This has made ICICI Prudential’s asset base the largest amongst private life insurers in the country,” said ICICI Prudential Life Insurance’s vice president, Amit Palta in a press conference here on Tuesday.

He said the company offers a variety of products that enable one to meet their long-term financial goals. “Our products also offer tax benefits u/s 80C and 80D, which enable them to save tax up to Rs 37,026,” mentioned Palta. Commenting on the proposed increase in FDI cap in insurance, he said it wouldn’t bring much difference to customers, but there would definitely be an increase in fund flow that in turn help infrastructure sector.