On Thursday, ICICI Prudential Life Insurance Company said its assets under management (AUM) had crossed the Rs 2.5 lakh crore milestone.

This is the result of delivering customer-focused products, new business premium growth, industry-leading persistence rates, superior client service, and superior risk-adjusted returns, the company said in a release.

The life insurance company, which started operations 22 years ago in December 2000, had an AUM of about Rs 100 crore in FY2001.

In nine years, it acquired Rs 50,000 crore AUM and managed assets worth over Rs 1 lakh crore in 14 years. Since then, the company’s AUM has doubled to Rs 2 lakh crore in just six years, ICICI Prudential Life Insurance said.

“Since the company crossed the Rs 1 lakh crore mark, its growth rate has accelerated significantly with a 150% increase in its AUM,” it said.

Driven by ICICI Bank, the insurer is the market leader in the private sector, with a market share of 15.7% in terms of new business written as of September 30, 2022.