ICICI Prudential Life Insurance AUM crosses Rs 3 lakh crore

Lucknow. #ICICIPrudentialLifeInsurance Company Limited has crossed the Rs 3 lakh crore mark under its #AssetsUnderManagement (AUM). As of July 31, 2024, the company's AUM was recorded at Rs 3.14 lakh crore.

Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, "Achieving the Rs 3 lakh crore milestone in Assets Under Management (AUM) is a matter of pride for us. It reflects the customer's preference for our products. It also highlights their trust in us as an aid in achieving their long-term financial goals. We have increased our Assets Under Management by simplifying our products and processes."

He further added, "Customers trust us to keep their savings safe and provide financial security to their families. We take care of their savings by following strict investment and risk management practices. This approach has helped us avoid any non-performing assets since the inception of the company and throughout various market conditions." Mr. Bagchi further added,

“We believe that life insurance not only provides financial security to the individual or society but also fulfills the primary needs of wealth creation and retirement income. As such, our products and processes are geared towards meeting all these needs efficiently. Technology solutions have proven to be helpful in simplifying life insurance and developing innovative products.

They also enable us to offer the right product to the right customer at the right price through the right channel enhancing customer experience. Our commitment to delivering on promises is reflected in our claim settlement ratio of 99.17% for FY24. This is one of the best in the industry with a turnaround time of just 1.27 days.”