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The life insurance industry in India grew by an impressive 36%, with premium income from new business at Rs. 253.43 billion during the fiscal year 2004-2005, braving stiff competition from private insurers. This report "The growth of ICICI Prudential Life Insurance Co. Ltd. since inception in Indian Insurance Industry, finds that the market share of the state behemoth, ICICI, has clocked 21.87% growth in business at Rs.197.86 billion by selling 2.4 billion new policies in 2004-05. But this was still not enough to arrest the fall in its market share, as private players like ICICI Prudential Life Insurance grew by 129% to mop up Rs. 55.57 billion in 2004-05 from Rs. 24.29 billion in 2003-04.Total value of the Indian insurance market (2004-05) is estimated at Rs. 450 billion (US$10 billion). Though the focus of this market research report is on A STUDY ON THE GROWTH OF THE ICICI PRUDENTIAL LIFE INSURANCE CO LTD., SINCE INCEPTION , it also talks about the market size, market segmentation, and key developments in the market after 1999. The report gives an instant overview of the growth of ICICI Prudential life insurance since inception in the Indian insurance market
About the author
Mr. EMMANUEL ATTAH KUMAH, T.A. (CSSVD), Teachers Cert ¿A¿, D.B.A., B.B.A. (Accounting and Finance), M.B.A. (Finance and Operation), SAP B1, is the Pre-University Director of All Nations University College, Koforidua, Ghana (W/A). He has been actively involved in teaching, research and consultancy in a distinguished career spanning over 11years.
