ICICI Pru`s AuM cross USD 10 billion
New Delhi: The country`s largest private insurance company, ICICI Prudential Life, said today its assets under management (AUM) have crossed USD 10 billion.
"Our assets under management crossed USD 10 billion
(about Rs 47,000 crore) at the end of August," ICICI
Prudential Life Insurance Managing Director V Vaidyanathan
Of the total assets, the private insurer has parked Rs
30,000 crore in the capital market, while the remaining Rs
17,000 crore in debt instruments.
The company`s assets under management stood at Rs 43,000
crore as on June 30, 2009.
Asked about the break even, Vaidyanathan said, although
the target is to become profitable by March 2012, "we are
striving to achieve it earlier."
The company, he added, would be focusing on increasing
efficiency and trimming expenses. "We are reducing our
wasteful expenses, and are redirecting the resources to areas
of growth," he said.
Vaidyanathan said business is picking up with the
economy showing some signs of revival.
More from India
More from World
More from Sports
More from Entertaiment
- Panel discussion over continuous chaos in Parliament on demonetisation
- DNA: Know why Jayalalithaa was buried and not cremated
- 800 tourists stranded in Andamans due to heavy rains, Navy launches rescue operation
- Watch shocking visuals - Speeding car rams pedestrians in Kolkata, 3 killed
- Opposition observes 'black day' to mark one month of demonetisation
- Twitter users blast Arvind Kejriwal as he says 'Modi will never appoint a Muslim Vice President no matter what Jung does'
- Yuvraj Singh-Hazel Keech Reception: MS Dhoni, Sourav Ganguly, Virender Sehwag attend lavish party — PHOTOS INSIDE
- Pakistan International Airlines plane from Chitral to Islamabad crashes near Havelian, 48 people dead
- Gali Janardhana Reddy converted Rs 100 crore black money by paying 20% commission, claims driver's suicide note
- Was Rahul Gandhi smiling during Jayalalithaa's funeral? Twitter users share pictures as proof