ICICI Prudential Life Insurance News

Currently, there are 24 life insurance players, including Life Insurance Corporation.

Giving a week's relief to Sahara India Life Insurance (SILIC), the Securities Appellate Tribunal (SAT) today stayed the IRDAI decision to sell the business of the Sahara group company to ICICI Prudential Life Insurance.

Embattled Sahara group on Sunday said it will approach court of law against IRDAI order directing transfer of its life insurance business to ICICI Prudential and alleged that the insurance regulator has "wrongly concluded" that the promoter was no more 'fit and proper' and a sum of Rs 78 crore was siphoned.

Insurance regulator Irdai on Friday asked leading private sector life insurer ICICI Prudential Life Insurance (IPRU) to take over the business of beleaguered Sahara India Life Insurance (SILIC), with effect from July 31.

The IPO market is heading for a heavy rush with a number of high-profile names including UTI Mutual Fund and SBI Life expected to launch their initial public offers amounting to Rs 20,000 crore in coming months.

"The company has had the tradition of growing faster than the industry and that gives us the comfort that the company will continue (to grow faster)," she told reporters, minutes after the first insurer to go public was listed on the bourses.

ICICI Prudential Life Insurance recently concluded its Rs 6,057-crore IPO with an oversubscription of more than 10 times.

Generating robust demand from investors, ICICI Prudential Life Insurance's Rs 6,057-crore IPO, the first by an insurer in India, today closed with over 10-time subscription for shares offered to public.

Generating robust demand from investors, ICICI Prudential Life Insurance's Rs 6,057-crore IPO, the first by an insurer in India, Wednesday closed with over 10-time subscription for shares offered to public.

 ICICI Prudential Life Insurance, which is set to hit the market next week, aims to raise Rs 6,000 crore through the initial public offer (IPO).