icici prudential insurance merger

Click here to load reader

Post on 14-Feb-2017

34 views

Category:

Economy & Finance

2 download

Embed Size (px)

TRANSCRIPT

PowerPoint Presentation

Icici prudential life insurance

Icici bank ltd.ICICI Bank(Industrial Credit and Investment Corporation of India) is anIndianmultinationalbankingandfinancial servicescompany headquartered inMumbai,Maharashtra,India, with its registered office inVadodara. In 2014, it was the second largest bank in India in terms of assets and third in term ofmarket capitalisation. It offers a wide range of banking products and financial services for corporate andretail customersthrough a variety of delivery channels and specialised subsidiaries in the areas ofinvestment banking,life,non-life insurance,venture capitalandasset management. The bank has a network of 4,450 branchesand 14,404 ATMsin India, and has a presence in 19 countries including India.

Prudential Corporation Holdings LimitedPrudential Corporation Holdings Limited operates insurance and asset management companies. The company was incorporated in 1978 and is based in London, United Kingdom. Prudential Corporation Holdings Limited operates as a subsidiary of Prudential Holdings Limited.

OverviewICICI Prudential Life Insurance Company Ltd. (ICICI Prudential Life) is a joint venture betweenICICI Bank Ltd., one of India's largest private sector banks, and Prudential Corporation Holdings Limited.ICICI Prudential Life began its operations in fiscal year2001and has consistently been the market leader*amongst private players in the Indian life insurance sector. Their Assets Under Management (AUM) as on 30thJune 2016 were`1092.82 billion.They offer an array of products across savings, investments and protection categories that matches the different life stage requirements of their customers and enables them to achieve their long term financial goals. ICICI Prudential Life is the first private life insurer to attain assets under management of`1 trillion and In-force sum assured of over`3 trillion. ICICI Prudential Life is also the first insurance company in India to be listed on NSE and BSE.

FiscalParticulars2001Company started operations2002Crossed the mark of 100,000 policies2005Crossed the mark of 1 million policies2008Crossed the mark of 5 million policiesCrossed receipt of`100 billion of total premiumCrossed`250 billion of assets under management2010Established Subsidiary for the purposes of undertaking pension funds related businessCompany turned profitable - registered profit of`2.58 billionCrossed`500 billion of assets under management2012Started paying dividends2015Crossed`1 trillion of assets under management

swocSTRENGHTSICICI Bank is the largest private sector bank in India and the second largest bank in India, in terms of assets. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank is a leading player in the retail banking market and has over 10 million retail customer accounts. The Banks corporate customers include Indias leading companies as well as growth-oriented small and middle market businesses, and the products and services offered to them include loan and deposit products and fee and commission-based products and services.ICICI Bank had total assets of Rs. 1,462.14 billion and profit after tax of Rs. 13.91 billion. The Bank has a network of over 500 branches and extension counters, and 1,850 ATMs.

Prudential has been writing life insurance in the United Kingdom for over 150 years and has had the largest long-term fund in the United Kingdom for over a century. In the United Kingdom Prudential is a leading life and pensions provider offering a range of retail financial products. M&G is Prudential's UK & European Fund Manager, with around US$ 230.00 billion of funds under management.

weaknessVery huge premium of policies compared to other companies.Minimum premium is 19000.(Expect tax saving policy only 10,000)Target upper class people only.Policy charges are very high.More centred in urban areas.Most of the plans too complicated to understand.

opportunitiesTie up with more corporate agents all over India.Tie up with broker also (ex PolicyBazaar)Rural market

ChallengesLIC offering huge surplus in life fund.Players like Bajaj Allianz with low premium for same plan.Changes in policy of IRDA (Insurance Regulatory and Development Authority.)New entrance.