ICICI Prudential Life Increases Capital Base By Rs 300Cr

ICICI Prudential Life Insurance, India''s No. 1 private sector life insurer, has increased its capital base by Rs 300 crore. The company''s promoters, ICICI Bank and Prudential plc, contributed to the capital in their existing proportions of 74:26 respectively, taking the total capital infusion to Rs 2,372 crore. The additional capital will be used to fund the high up-front expenses required by a life insurance business and meet the solvency norms as stipulated by the regulator. It will also enable ICICI Prudential to continue driving its expansion strategy over the next year, which includes opening new branches and offices across the country as well as scaling up operations to meet the expansion. For consumers, this large capital base is one of the most important indicators of the solvency of the company and its ability to meet all its policyholder commitments.

ICICI Prudential Life Insurance, India''s No. 1 private sector life insurer, has increased its capital base by Rs 300 crore. The company''s promoters, ICICI Bank and Prudential plc, contributed to the capital in their existing proportions of 74:26 respectively, taking the total capital infusion to Rs 2,372 crore. The additional capital will be used to fund the high up-front expenses required by a life insurance business and meet the solvency norms as stipulated by the regulator. It will also enable ICICI Prudential to continue driving its expansion strategy over the next year, which includes opening new branches and offices across the country as well as scaling up operations to meet the expansion. For consumers, this large capital base is one of the most important indicators of the solvency of the company and its ability to meet all its policyholder commitments.