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ICICI Life Insurance

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ICICI Life Insurance Limited
TypePublic
ISININE726G01019
IndustryFinancial services
Founded2000; 26 years ago (2000)
HeadquartersMumbai, India
Key people
Products
RevenueIncrease ₹51,335.63 crore (US$5.3 billion) (2026)[5]
Increase ₹1,600.36 crore (US$170 million) (2026)[5]
Total assetsIncrease ₹312,725.22 crore (US$32 billion) (2026)[5]
Total equityIncrease ₹13,631.15 crore (US$1.4 billion) (2026)[5]
Number of employees
20,000
ParentICICI Bank
Websitewww.icicilife.com
Footnotes
[6][7][8][9]

ICICI Life Insurance Limited (formerly known as ICICI Prudential Life Insurance Company Limited) is an Indian life insurance company and a subsidiary of ICICI Bank. The company offers a range of life insurance plans to individuals and businesses in India. It was established as a joint venture between ICICI Bank and Prudential plc and is now majority-owned by ICICI Bank.[10]

History

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ICICI Life Insurance Limited (formerly known as ICICI Prudential Life Insurance Company Limited) started its operations in 2000. The life insurance arm was established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited.[11][12]

In 2016, ICICI Life Insurance Limited (formerly known as ICICI Prudential Life Insurance Company Limited) became the first insurance company to be listed in Indian stock exchanges, namely Bombay Stock Exchange and National Stock Exchange.[13] In the IPO, parent company ICICI Bank Limited offloaded 12.65% stake worth ₹5,000 crore (US$744.1 million).[14][15][16]

In 2017, ICICI Life Insurance Limited (formerly known as ICICI Prudential Life Insurance Company Limited) was to take over Sahara Life's insurance business on request from the regulator IRDA in a motive to resolve the crisis at Sahara's life insurance arm.[17] The merger was later revoked by Securities Appellate Tribunal.[18]

As of 31st March 2026, ICICI Life Insurance Limited (formerly known as ICICI Prudential Life Insurance Company Limited) had ₹3,140 billion (US$32.58 billion) in assets under management (AUM).[19]

In October 2026, the company changed its name from ICICI Prudential Life Insurance Company Limited to ICICI Life Insurance Limited, with ICICI Bank becoming the majority shareholder.

See also

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References

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  1. ↑ "ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited)". Business Insider. Archived from the original on 15 September 2024.
  2. ↑ "ICICI Life Insurance Limited appoints Sidharatha Mishara as MD & CEO of company". The Economic Times. 2 October 2026. Retrieved 2 October 2026.
  3. ↑ "Key Persons".
  4. ↑ "ICICI Life Insurance CFO Dhiren Salian discusses the role of Data Analytics". dqindia.com. Retrieved 20 June 2023.
  5. 1 2 3 4 "ICICI Life Insurance Limited Financial Statements" (PDF). nsearchives.nseindia.com.
  6. ↑ "A STUDY ON FINANCIAL ANALYSIS OF ICICI LIFE INSURANCE" (PDF). Gscen.shikshamandal.org.
  7. ↑ "Research Report ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited) by Yes Securities" (PDF). bsmedia.business-standard.com.
  8. ↑ "ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited)-Strategy, SWOT and Corporate Finance Report". Marketresearch.com.
  9. ↑ "BSSS - THE BHOPAL SCHOOL OF SOCIAL SCIENCES" (PDF). bsssbhopal.edu.in.
  10. ↑ "ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited) to debut on BSE, NSE tomorrow". The Financial Express. 28 September 2016. Retrieved 3 May 2021.
  11. ↑ "Prudential Corp to sell up to 3.71% in ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited)". Hindu Business Line. 25 March 2019. Retrieved 14 September 2020.
  12. ↑ "ICICI Life Insurance company's AUM cross ₹2 lakh crore". mint. 11 December 2020. Retrieved 8 April 2021.
  13. ↑ "SBI Life Insurance IPO opens, raises Rs2,226 crore from anchor investors". Mint. 20 September 2017. Retrieved 14 September 2020.
  14. ↑ "ICICI Life Insurance IPO to open on Sep 19, price band Rs 300-334/sh". Moneycontrol. 9 September 2016. Retrieved 14 September 2020.
  15. ↑ Swaraj Singh Dhanjal (22 June 2020). "Singapore govt buys ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited) stake worth Rs842 crore". mint. Retrieved 14 September 2020.
  16. ↑ "ICICI to sell 6% stake in life insurance JV to Premji Invest, Temasek arm for Rs 1,950 crore". The Economic Times. Retrieved 17 August 2021.
  17. ↑ "IRDAI asks ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited) to take over Sahara insurance business". Zee Business. 29 July 2017. Retrieved 14 September 2020.
  18. ↑ "Tribunal Revokes IRDAI Order To Transfer Sahara Life Business To ICICI Life Insurance Limited (Formerly known as ICICI Prudential Life Insurance Company Limited)". BloombergQuint. 11 January 2018. Retrieved 21 September 2020.[dead link]
  19. ↑ "Company Overview | ICICI life". www.icicilife.com. Archived from the original on 13 May 2026. Retrieved 31 July 2026.
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