ICICI Prudential Life Insurance Company Ltd (ICICI Pru) was the largest private sector life insurer in India by total premium in fiscal 2016. Issue Open: Sep 19 - Sep 21 2016. ICICI Prudential Life Insurance Company Ltd (ICICI Pru) was the largest private sector life insurer in India by total premium in fiscal 2016 and assets under management at March 31, 2016. It is a joint venture between ICICI Bank Limited, in terms of total assets with an asset base of Rs. 7.2 trillion at March 31, 2016, and Prudential Corporation Holdings Limited, a part of the Prudential Group, an international financial services group with GBP 509 billion of assets under management at December 31, 2015. ICICI Pru was one of the first private sector life insurance companies in India and commenced operations in fiscal 2001. It offers customers a range of life insurance, health insurance and pension products and services. Every fiscal year since fiscal 2002, it has consistently generated the most new business premiums on a retail weighted received premium basis among all private sector life insurers in India