How has the global turmoil affected Prudentials businesses worldwide?
Investor confidence has been affected globally. The environment has been getting tougher. In our view, its one of the many cycles. Our global losses for the first half year are 100 million. The Prudential model is an immensely strong model, besides factors such as geographical diversity and our capital balance sheet have helped us. ICICI Prudential Life Insurance’s losses have increased, its expense ratios are rising. So far, over Rs 4,000 crore of capital has been infused. What about breakeven and listing? We have remained the market leader for the last seven years. During April-August, we had a market share of 13.7 per cent as against 12.7 for the last year. The nature of life insurance business is such that it takes 9-12 years to breakeven. Life insurance is a long term business. We are moving in the right direction. The insurance company has over 2,000 branches and a top quality team. The company’s management has done an excellent job. We are very happy and pleased with our India b
