ICICI Pru Life issues 1 lakh policies
By Our Banking Bureau | 04 Apr 2002
The company has augmented its equity-base by Rs 40 crore, taking its paid-up capital to Rs 190 crore. This capital infusion is the first of the two planned rounds of equity expansion, the second of which is scheduled later this year, a press release said.
Says ICICI Pru Life managing director Shikha Sharma: The company is focused on developing flexible, need-based products, backed with need-based selling advice and technology-enabled risk.
Over 40 per cent of the policies issued were of products such as market-linked policies, retirement solutions and Smart Kid, a policy designed specifically to meet the educational needs of children.