ICICI Prudential Life Insurance Company said on December 11 its assets under management (AUM) have crossed Rs 2 lakh crore as it entered its 20th year.
The company, which started operations in 2001 with the issuance of policies to seven underprivileged children, had an AUM of approximately Rs 100 crore in its first year of operation. It grew to about Rs 50,000 crore in FY10, and subsequently the company became the first in the insurance industry to achieve an AUM of Rs 1 lakh crore in February 2015.
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"We are delighted to achieve this milestone of managing Rs 2 lakh crore of assets. It demonstrates our steadfast focus on customer-centricity and the trust reposed in us by our customers. It also symbolizes the commitment of our employees, distributors and other stakeholders to keep the customer at the core of every initiative implemented," ICICI Prudential Life Insurance MD NS Kannan said.
"We continue to be guided by our vision of building an enduring institution which serves the protection and long-term savings needs of customers with sensitivity. As one of the largest life insurance companies in the country, it is our mission to protect and provide financial security to every Indian."
As of September 2020, its total sum assured stood at Rs 18.06 lakh crore.
The company, the first life insurer to list on the stock exchanges, has had no NPAs since inception and across market cycles due to its stringent investment philosophy, the firm said.
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