The Hindu Business Line : ‘ICICI Prudential Life makes rapid strides in AP’

ICICI Prudential Life has made rapid strides in Andhra Pradesh during the past eight years, with business of over Rs 355 crore till the end of January during the current fiscal in the State, according to Mr Venkatachalam Iyer, Vice-President (Bancassurance and Alliances).

At a press meet here on Thursday, he said at present the company had 427 branches and 29,309 advisers in addition to local tie-ups. The State accounts for 7 per cent of the company’s overall business and till now 7,46,000 policies had been sold in the State. The growth in policies sold was 46 per cent a year.

Mr Iyer said the company had done exceedingly well during the current financial year. It garnered a total premium (new business and renewal) of Rs 9,918 crore till the end of December, against Rs 7,758 crore during the corresponding period last year.

The company had 2,100 branches all over the country, with an adviser base of over 2,90,000 and 18 bancassurance partners. Till now the company had sold over 90 lakh policies during the past eight years in the country and the target was to reach the one-crore mark as quickly as possible, he added.

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