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ICICI Bank (51%) Prudential Plc (49%) Number of employees. 2000–2500 (2022) Website. www .icicipruamc .com. ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between ICICI Bank and Prudential plc. [4] It is the second-largest asset management company in India after the SBI Mutual Fund.
ICICI Prudential Life Insurance started its operations in 2001. The life insurance arm was established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited with assets under management (AUM) of approx. ₹ 1 billion (US$13 million). In 2005, the company crossed the mark of 1 million policies.
Eastspring was originally the investment management arm of Prudential Corporation Asia, the Asian branch of Prudential plc that was established in 1994. In 1998, it formed a joint venture with ICICI Bank named ICICI Prudential Mutual Fund which is located in Mumbai and is currently one of the largest asset management companies in India.
Mutual fund statistics. The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$640 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$100 billion) recorded in December 2013. [2]
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara.It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Capital of India and the Sun Life Financial Inc. of Canada. The company ...
Life Insurance Corporation of India ( LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹49.24 trillion (US$620 billion) as of March 2023. [3]
ICICI Bank had 64% stake in the venture while Fairfax had 36% in the joint venture. ICICI Lombard General Insurance is the largest private-sector general insurance company in India. In fiscal 2016, ICICI Bank sold a 9.0% stake in ICICI General to its joint venture partner, Fairfax Financial Holdings, at a company valuation of ₹172.25 billion.
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