Financial news analysis with different prospects and contributions of companies in different sectors.

1. CORPORATE FINANCE – 1
FINM542
Submitted By -
Gouri Saha
Registration No - 12104462
Roll no – A68
Sakshi Bajaj
Registration No - 12112066
Roll no – A66
Submitted to –
Dr. Atul Kumar Karn

2. INTRODUCTION
ICICI Prudential Life Insurance Company Limited is promoted by ICICI Bank Limited
and Prudential Corporation Holdings Limited.
This company got approval IRDAI and this company started in the financial year 2001.
The company provides life insurance, pensions, and health insurance to realities and
groups.

3. ABOUT THE COMPANY
• Branches – 2100
• Micro- offices – 1116
• Headquarter (In India) - Mumbai

4. Benefits offered ICICI prudential life insurance company

6. ICICI Prudential Life Insurance binds with NPCI – Offers
UPI AUTOPAY to enrich client convenience. - Date 08/03/2021
ICICI Prudential Life Insurance has tied up with the NPCI to provide Unified Payments
Interface AUTOPAY facility to its customers. At the time of purchasing a life insurance
policy customers can link their bank accounts with UPI AUTOPAY and easily make
premium payments thereafter. The UPI AUTOPAY emendate can be activated by
customers themselves by using their smartphones to make regular renewal premium
payments in a paperless format.

7. RBL bank and ICICI
prudential life insurance
form bancassurance
fellowship. - Date 09/12/2020
RBL Bank and ICICI Prudential Life Insurance have
entered into a bancassurance partnership to offer an
array of life insurance products to the Bank’s
customers.
The entire bouquet of ICICI Prudential Life’s
insurance plans on the
protection and savings platform will be available for
purchase to customers of the Bank.

8. ICICI prudential life insurance express itself as
an innovative retirement solution with increasing
regular income option.
-Date 25/05/2021
ICICI Prudential Life Insurance has introduced an
innovative retirement solution by combining two
variants of its popular Guaranteed Pension Plan, which
offers a guaranteed return on investments. In
recognition of the innovative and industry-first features
offered by the Company’s Guaranteed Pension Plan , it
has been voted by consumers as -
Product of the Year -Retirement and Pension Plans
category.

9. ICICI prudential life
insurance launches
guaranteed pension plan. –
Date 20/12/2020
This plan provides customers with the flexibility to
choose between Immediate and Deferred Annuity.
The Immediate Annuity option enables customers
to start receiving regular income immediately by
paying a one-time premium.

10. ICICI prudential life partners with NSDL
payments bank to offer insurance
products.
– Date 10/09/2020
ICICI Prudential Life Insurance has entered into a
corporate agency agreement with NSDL
Payments Bank, a subsidiary of NSDL, the largest
depository of India. Under the agreement, ICICI
Prudential Life will provide its customer centric
protection and savings products to customers of
NSDL Payments Bank.

11. Life insurers may see short-
term pressure on
profitability due to
pandemic: ICICI pru life
Since 2nd wave of covid has hit the country very
hard due to shortage of various medical supplies
along with that number of claims of insurance
policies has been increased. As per the report of
FY21, the insurance industry has reported the
modest growth of 3% due to attractiveness of
different life insurance savings products.

12. ICICI prudential life to raise
rs 1,200 cr
ICICI Prudential Life insurance decided to raise the funds
of Rs1200 cr by offering bonds on the basis of private
placement concept and this decision was approved by
the strategy committee of the ICICI Prudential Life
insurance.

13. Covid-19 demands an
adaptive response, says
ICICI pru life insurance
The covid 19 has laid or introduced various challenges
for the Indian life insurers, ICICI Prudential Life
Insurance is among those companies which have
adopted agile method of working to bring digital
transformation . We can conclude that the company is
trying to boost people productivity via digital
technology and virtual learning such as different
communication campaigns are being run on multiple
digital platforms to spread awareness about customer
safety and social distancing etc.

14. ICICI prudential life
insurance in discussion for
onboarding account
aggregator system
ICICI has taken into consideration the concept
of Account Aggregator system, a platform
which is regulated by RBI through an NBFC-
AA license and allows to share the financial
data of individuals in a secure manner. The
AA system’s main objective is to bring a
significant change in the investment and
credit sector so that customers can have
access and control over their financial records
easily.

15. ICICI pru life announces
record bonus of rs 867 crore
for policyholders
15th consecutive annual bonus reflects the Company's
commitment to deliver long-term value to policyholders.
FY2021 bonus 10% higher than the previous year
Aids 9.8 lakh participating policyholders to get closer to
their financial goals.