| This growth in the private insurer's new business follows the popularity of unit-linked plans across retirement and child plans with growth in customer acquisition. |
| The leading insurer's new business premium income in the first half of 2004-05 accounted for 87 per cent of the total premium earned, which included renewal income. |
| Total premium grew by 176 per cent to Rs 676 crore during the first half of fiscal year 2004-05 from Rs 245 crore in the corresponding period last fiscal. |
| The company issued over 2.14 lakh policies for a total sum assured of over Rs 6,400 crore in the first half of 2004-05. Of the Rs 498 crore new premium income, Rs 268 crore was earned in the second quarter of 2004-05, a rise of 133 per cent over the same quarter in the previous year. |
| Sandeep Batra, chief financial officer of ICICI Prudential, said, "ICICI Prudential Life has been promoting unit-linked plans for over a year. The unit-linked plans received huge response because the products offer significantly superior combination over traditional plans." |
| "Unit-linked plans will continue to drive insurers' businesses as they carry lowest charges and also allow the insured to have control over where the premiums get invested." |
| ICICI Prudential recently became the first private life insurer to cross the one million-policy milestone. The company's market share among private life insurers during the April-August period of this year stands at 32 per cent, and its share in the retail segment stands at 34 per cent. |
| The insurer's share of the total market, including the Life Insurance Corporation of India's, during the same period stood at 5.6 per cent. ICICI Prudential's total asset base as on September 30, 2004 was about Rs 2,000 crore. |
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