ICICI Prudential to consolidate business in KeralaMarch 18th, 2009 - 6:24 pm ICT by IANS
Thiruvananthapuram, March 18 (IANS) Private life insurer ICICI Prudential Life is focussing on consolidating business in Kerala rather than going for major expansion, a top official said here Wednesday.
In the first 11 months this fiscal, the company’s business has crossed Rs.4.05 billion (Rs.405 crore), ICICI Prudential vice-president K.S. Mahesh told reporters.
“This fiscal, we did not open any new branch in the state and instead we were consolidating our business. We have succeeded in that and this will continue,” said Mahesh.
“We had a good first half and that has helped us stand firm after the global meltdown struck,” he added
At present, the company has 195 branches in Kerala with 19,242 advisors and 1,675 employees.
“In the state, the most sought-after policies are pension plans and children’s plans. The renewal in the policies is also excellent and this means that our policy holders are happy with us,” said Mahesh.