ICICI Pru Life appoints new Actuary

New Delhi, March 18, 2008: ICICI Prudential Life has appointed Dr. Avijit Chatterjee as Appointed Actuary of the company with effect from January 18, 2008. Dr. Chatterjee has come in the place of Mr. Azim Mithani who has moved to Prudential's insurance business in Malaysia as Chief Financial Officer.

Dr. Chatterjee brings with him a wealth of experience, having served in a leading UK life insurance company for 15 years in various positions. He has been responsible for group-wide capital management, product supervision, management of the group actuarial team and was actively involved in providing actuarial input on all material transactions conducted by group entities in his previous assignment.

Announcing the appointment of Dr. Avijit Chatterjee, Ms. Shikha Sharma, Managing Director and CEO, ICICI Prudential Life said, "The actuarial team plays a pivotal role in playing out the company's strategy of providing effective insurance solutions to customers from across the spectrum. Our actuarial team has enabled us build and sustain a multi-product portfolio, which has helped us reinforce our commitment to customer centricity and value creation. Avijit, with his strong technical knowledge in the life insurance domain, coupled with his vast experience of working across many business categories will play a critical role in not only strengthening our actuarial team but also help the company achieve significant milestones."

Speaking on the occasion, Dr. Avijit Chatterjee, said, "The Indian life insurance industry, today is poised at a very interesting stage and I am excited to be a part of this through India's leading private insurer. I look forward to strengthening the company's position in the industry along with my team and the management."

Dr. Chatterjee holds a Ph. D in pure mathematics and is a Fellow of the Faculty of Actuaries (FFA) in Scotland and Fellow of the Institute of Actuaries of India (FIAI).

About ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in the year 2000. For nine months ended December 31, 2007, the company garnered Rs. 4,586 crore of weighted retail + group new business premiums and has underwritten over 6 million policies since inception. The company has a network of over 1,000 offices, around 246,000 advisors; as well as 22 bank partners. It is also the only life insurer in India to be assigned AAA (Ind) credit rating from Fitch Ratings. For the past seven years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com.