The Sahara Pariwar’s latest foray is in the field of Life Insurance. The Pariwar’s life insurance company – Sahara India Life Insurance Company Ltd. - has been granted licence by the insurance regulator – the IRDA on 6th February 2004. With this approval Sahara India Life Insurance Company Ltd. becomes the first wholly and purely Indian company, without any foreign collaboration to enter the Indian Life insurance market. The launch is with an initial paid up capital of 157 crores. The Chairman of the company is Shri Subrata Roy Sahara who is also the Chairman of Sahara Pariwar.
ICICI Prudential's success story It is a real life story. A story of an insurer that has managed to hold on to its lead in the marketplace for seven years. ICICI Prudential, a joint venture between ICICI Bank and Prudential UK, has been around ever since the private sector was allowed to sell life insurance policies. Since then the tribe of life insurers has grown from 12 to 16, but ICICI still leads the private sector pack. With a portfolio of over 6.5 million policies, India's biggest private sector life insurer has not merely held on to its share but grown it; at the end of January 2008, the firm commanded 29 per cent of the share owned by private sector players. Quite some way below was Bajaj Allianz with 21 per cent, while State Bank of India came in third with 10 per cent. How did ICICI achieve that? Says Ashvin Parekh, national leader, financial services, Ernst & Young, "Their strategy has been to grow the portfolio large enough so that there is
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