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ICICI Prudential Life Insurance has been planning to further grow its protection and savings business.
The company has seen a 87.1 percent growth in FY17 in protection business to Rs 260 crore in terms of annualised premium equivalent (APE).
ICICI Prudential Life Executive Director Sandeep Batra has said that the retail protection accounted for Rs 209 crore of the business in FY17, that shows a big jump from Rs 94 crore in FY16.
He added that “India has one of the highest protection gaps among other countries. This gives us an opportunity to grow this business.”
