Thursday, September 29, 2005

ICICI-Prudential Life insurance has crossed Rs 5,000 Crore mark in funds under management of which, about Rs 1,200 crore have been added in the current fiscal. ICICI Prudential’s weighted received premium income for the five-month period April-August 2005 stood at Rs 530 crore, up by 75% from the same period last year.

The company’s retail market share now stands at 32% of private companies and 10% of the total market for the same period. Of the Rs 530 Crore premium, Rs 146 Crore came in August this year, helping it achieve a share of 31% among the private players and 10.5% of total industry. Its market share (retail and group) stood at 31.6% for April-August 2005.

The company has a network of over 60,000 advisors as well as 7 banc assurance and 150 corporate agent tie-ups. The company has wide ranging of flexible products. Worldwide it is the norm for single premium policies to be given only a 10% weightage when adding the same to regular premium. This accounts for the long-term nature of the premium received and even out the spikes that such inflow create. Once a company matures and has significant stream of the renewal premiums, the method of calculations changes taking into receipts from the single premium, regular premium and the renewal premiums.

(Source : http://www.financialexpress.com/fe_full_story.php?content_id=104012)