financial analysis of icici prudential life insurance
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DESCRIPTIONabout ICICI prudential life insurance its riders benifits,its financial analysis
- 1. FINANCIAL ANALYSIS OF
2. About insurance.
Some major players in private sector.
About ICICI prudential life insurance co.
Financial comparison with other company.
Objective of the study.
Sources of finance.
Financial analysis of company.
Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed and known small loss to prevent a large, possibly devastating loss.
4. Major players
5. ABOUT THE COMPANY
Joint venture b/w ICICI bank & prudential life insurance company. ICICI bank has 76% of stake & rest is of prudential.
ICICI bank is Indias 2nd largest bank.
Prudential is international financial service group having headquarter in U.K.
It started its operations in December 2000, after getting approval by IRDA & today this is the no. 1 co. in privatesector in India.
6. ICICI Prudential Life is all about
We cover you at every step in life
7. unaudited earnings Rs. 36,340 million.
Partnership with McLeod Russel India.
Company has opened new 1375 offices in 2008.
India's Most Customer Responsive Insurance Company.
Prudence Customer Centricity Award 2007 & 2008 Prudential Corporation Asia.
ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products cab is enhanced with up to 6 riders, to create a customized solution for each policyholder.
-Accident & disability benefit
-Critical Illness Benefit
-Major Surgical Assistance Benefits
-Waiver of Premium
9. Finance function in ICICI Prudential is committed to create an infrastructure that is aligned to shareholder expectations.
Basically it includes four functions:
- Preparation and maintenance of financial records.
10. Funds management. 11. Expense processing. 12. Treasury
operations.Financial management of ICICI prudential
13. Contribution related charges.
Bid offer charges.
Transactional specific charges.
14. Financial comparisons with competitors
15. Preparation for IRDA exam.
Cleared IRDA exam.
Attending AIP classes.
16. Objectives of the Study
- To know the financial position of the company using ratios.
17. To see the change of the companys assets and liability from 2007 to 2008 using comparative and common size statement. 18. To find out the sources used by the company to finance their activities.