My Dream Organization
When I read about the institution the one person who inspired me was Mr. A. who was the first chairman of this great institution, the history of work structure of ICICI is as follows: ICICI established in 1955, incorporated at the initiative of the World Bank, the Government of India and representatives of Indian industry, with the objective of creating a development financial institution for providing medium-term and long-term project financing to Indian businesses. It emerges as the major source of foreign currency loans to Indian industry.
Besides funding from the World Bank and other multi-lateral agencies, ICICI was also among the first Indian companies to raise funds from international markets. ICICI Group offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized group companies, subsidiaries and affiliates in the areas of personal banking, investment banking, life and general insurance, venture capital and asset management. With a strong customer focus, the ICICI Group Companies have maintained and enhanced their leadership position in their respective sectors.
It is the largest private sector life insurance company offering a comprehensive suite of life, health and pensions products. It is also the pioneer in launching innovative health care products like Diabetes Care Active and health Saver. The company operates on a multi-channel platform and has distribution strength of over 2,76,000 financial advisors operating from more than 2000 branches spread across 1800 locations across the country. In addition to the agency force, it also has tie-ups with various banks, corporate agents and brokers.
In fiscal 2009, ICICI Prudential attained a market share of 10. 9% based on retail weighted premium and garnered a total premium of Rs 153. 56 billion registering a growth of 13% and held assets of Rs. 327. 88 billion as on March 31, 2009. ICICI Lombard General Insurance Company, a joint venture with the Canada based Fairfax Financial Holdings, is the largest private sector general insurance company. It has a comprehensive product portfolio catering to all corporate and retail insurance needs and is present in over 300 locations across the country.
ICICI Lombard General Insurance has achieved a market share of 27. 2% among private sector general insurance companies and an overall market share of 11. 2% during fiscal 2009. The gross return premium grew by 2. 2% from Rs. 33. 45 billion in fiscal 2008 to 34. 20 billion in fiscal 2009. ICICI Securities Ltd is the largest equity house in the country providing end-to-end solutions (including web-based services) through the largest non-banking distribution channel so as to fulfill all the diverse needs of retail and corporate customers.
ICICI Securities (I-Sec) has a dominant position in its core segments of its operations – Corporate Finance including Equity Capital Markets Advisory Services, Institutional Equities, Retail and Financial Product Distribution. ICICI Securities Primary Dealership Limited is the largest Primary Dealer in Government Securities. It is an acknowledged leader in the Indian fixed income and money markets, with a strong franchise across the spectrum of interest rate products and services – institutional sales and trading, resource mobilization, portfolio management services and research.
One of the first entities to be granted Primary Dealership license by RBI, I-Sec PD has made pioneering contributions since inception to debt market development in India. I-Sec PD is also credited with pioneering debt market research in India. I-Sec PD has been recognized as the ‘Best Domestic Bond House in India’ by Asia money every year from 2002 to 2007 and selected as ‘Best Bond House’ by Financeasia. com for the years – 2001, 2004 to 2007 and 2009. ” ICICI Prudential Asset Management is the third largest mutual fund with average asset under management of Rs. 514. 33 billion and a market share of 10. 43% as on March 31, 2009.
The Company manages a comprehensive range of mutual fund schemes and portfolio management services to meet the varying investment needs of its investor’s through162 branches and 185 CAMS official point of transaction acceptance spread across the country. ICICI Venture is one of the largest and most successful private equity firms in India with funds under management in excess of USD 2 billion. ICICI Venture, over the years has built an enviable portfolio of companies across sectors including Life Sciences, Information Technology, Media, Manufacturing, Retail, Financial Services, and Real Estate thereby building sustainable value.
It has several “firsts” to its credit in the Indian Private Equity industry. Amongst them are India’s first leveraged buyout (Info media), the first real estate investment (Cyber Gateway), the first mezzanine financing for a acquisition (Arch Pharmalabs), the first ‘royalty-based’ structured deal in Pharma Research & Development (Dr Reddy’s Laboratories – JV) and the first fund level secondary transaction (Collar Capital). ICICI has a great impact in India both monetary and globally.
With deep roots in the Indian economy for over five decades, the ICICI Group is India’s fastest growing financial services conglomerate. Its rapid growth, particularly in the last decade, has been accompanied by a long-term commitment to enhancing the economic, social as well as human development outcomes through a variety of initiatives for the weaker sections of society. Its work in the area of development is focused on facilitating wider participation by India’s poorer communities in social and economic processes.