Icici Pru Vs Bajaj Allianz: Clash of the Titans ; Icici Prudential and Bajaj Allianz Are the Two Largest Private Life Insurers in India and Both Are Expanding Furiously. The Former Leads On Some Parameters and the Latter On Some Others. For Now, the Race Is Too Close to Call.

Summary

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CITIC Prudential life Insurance Company, headquartered in Guangzhou district of China, clocked a gross premium of RNB 1.61 billion (Rs 805 crore) in 2006. Launched in 2000, CITIC Prudential, a joint venture between China's CITIC and Prudential UK, now ranks third among the two dozen foreign insurers in the Chinese mainland. In Shanghai's Puming Road, the fourth-largest foreign insurer, Allianz China Life Insurance Co., ran neck and neck, with gross premium income of RNB 1.20 billion (Rs 600 crore).

In the first five months of 2007, however, Allianz China has displaced CITIC Prudential from the third slot by recording gross premiums of RNB 1.02 billion or Rs 510 crore (CITIC Prudential managed RNB 0.72 billion or Rs 360 crore) and is sending jitters down the spine of #2 Generali China Life, by equalling its premium income.

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Icici Pru Vs Bajaj Allianz: Clash of the Titans ; Icici Prudential and Bajaj Allianz Are the Two Largest Private Life Insurers in India and Both Are Expanding Furiously. The Former Leads On Some Parameters and the Latter On Some Others. For Now, the Race Is Too Close to Call.

China is not the only emerging market where Germany's m1 trillion (Rs 56 lakh crore) Allianz and the UK's $500 billion (Rs 20 lakh crore) Prudential are slugging it out. That story is being repeated in India where the Bajaj Allianz Life Insurance Company, a partnership between the German insurance giant and two-wheeler biggie Bajaj Auto, is breathing down the neck of market leader ICICI Prudential Life Insurance Company, a JV between India's largest ...

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