ICICI Prudential Life Insurance Company has mopped up a premium income of Rs 348 crore for the year ended March 31, 2003, reflecting a 200 per cent growth over the corresponding period last year.
It has sold 2,46,827 policies during the year, against one-lakh policies sold in fiscal 2002.
Total sum assured increase more than six fold to Rs 6,005 crore. ICICI Prudential has cornered about 40 per cent of the private sector insurance market, which today accounts for 10 per cent of incremental sales of the entire industry.
ICICI Prudential chief marketing officer Saugato Gupta attributed the growth in performance to its distribution ramp-up, the ICICI brand, its customer-centric focus and its product portfolio.
