ICICI Prudential Life Insurance Com pany Limited

(Mumbi, INDIA)

1089 Appasaheb Marathe Marg (Prabhadevi) Phone : +91 22 5662 1600

Mumbi 400 025 Fax : +91 22 2437 6638
INDIA Web Site : www.iciciprulife.com

Total assets (2006): 3,162,881 th EUR Gross Premium Written (2006): 1,362,902 th EUR

Uncons. (Life) Source : AR

RATINGS
No rating is available for this institution

ILLUSTRATION OF THE EVOLUTION OF THREE KEY VARIABLES

BALANCE SHEET
31/03/07 31/03/06 31/03/04 31/03/03
Unqualified Unqualified Unqualified Unqualified
th EUR th EUR th EUR th EUR

Surplus 385,094 246,886 37,844 33,299

Net Technical Reserves 2,623,921 1,534,754 283,317 108,154
Total Other Liabilities 153,865 103,575 20,027 7,364
Total Liabilities 3,162,881 1,885,214 341,188 148,817

Total Investments 2,835,663 1,684,611 323,460 135,925

Insurance Debtors n.a. n.a. 1,154 913
Total Other Assets 327,217 200,603 16,574 11,979
Total Assets 3,162,881 1,885,214 341,188 148,817

INCOME STATEMENT

Gross Premium Written 1,362,902 789,228 186,279 80,613

Net Premium Written 1,360,117 787,961 185,920 80,558
Underwriting Expenses 480,206 226,614 28,237 10,335
Other U/W Income/(Expenses) n.a. n.a. n.a. n.a.
Underwriting Result 879,911 561,347 157,683 70,224

Investment Return 176,067 267,327 11,529 6,455

Increase in Long-Term Fund (-) 1,174,856 866,268 211,372 105,089
Shareholders Profit from LT Business -118,879 -37,594 -42,160 -28,410

Other Income/Expenses -251 -67 n.a. n.a.

 Profit Before Tax -119,130 -37,661 -42,160 -28,410

RATIOS
Reporting basis :
Uncons. (Life)
31/03/07 31/03/06 31/03/04 31/03/03
Unqualified Unqualified Unqualified Unqualified
th EUR th EUR th EUR th EUR

Investment Return (%) 3.43 4.06 2.88 3.06

Profitability Ratio (%) -8.76 -4.78 -22.68 -35.27
Combined Ratio (%) 35.31 28.76 15.19 12.83
Solvency Ratio (%) 113.86 115.07 112.48 128.83

MEDIAN VALUES OF THE PEER GROUP 2006 2005 2003 2002

Total Assets (th EUR) 928,414 1,215,920 n.a. n.a.
Gross Premium Written (th EUR) 504,391 540,002 n.a. n.a.
Profit Before Tax (th EUR) -18,884 -15,962 n.a. n.a.
Investment Return - L (%) 4.32 4.41 n.a. n.a.
Profitability Ratio - L (%) -4.45 -5.96 n.a. n.a.

ILLUSTRATION OF THE EVOLUTION OF KEY RATIOS

BOARD MEMBERS & OFFICERS

Name Position
K V Kamath Chairman
B Stowe Director
C Kochhar Director
K Morparia Director
H T Phong Director
R Narayanan Director
M P Modi Director
K Dadiseth Director

SHAREHOLDERS
BvDEP Independence Indicator: D Help
Current definition of the UO : path of min 25.01% of control, known shareholders

The companies underlined and displayed in dark - bold are available on other BvDEP Databases.
Ownership Source Company Inform.
Shareholder name Country Type Op. Total
Direct Source Date of Closing
Total (%) Revenue Assets
(%) ident. inform Date
(mil USD)* (mil USD)
Global Ultimate Owner (qualification: UO-)
- DEUTSCHE BANK AG DE B - n.a. VD 12/08 >< 16,930 3,065,111
Domestic Ultimate Owner
- ICICI BANK LIMITED IN B 73.87 n.a. RM 03/08 >< 8,559 121,450

Shareholders
1. ICICI BANK LIMITED IN B 73.87 n.a. RM 03/08 >< 8,559 121,450

* For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).
SUBSIDIARIES (Roll-up structure)

Current definition of the UO : path of min 25.01% of control, known shareholders

Filters :No filter

The companies underlined and displayed in dark - bold are available on other BvDEP Databases.
Ownership Source Company Inform.
Subsidiary name Country Level Op. Total
Direct Total Source Date of Closing
of Status Revenue Assets
(%) (%) ident. inform Date
own. (mil USD)* (mil USD)
1. FAG BEARINGS INDIA LIMITED via its IN - 7.80 1 - FS 09/08 >< 165
funds
2. JYOTHY LABORATORIES LTD. via its IN - 7.72 1 - FS 09/08 >< 98
funds
3. EMCO LIMITED via its funds IN - 7.66 1 - FS 09/08 >< 236
4. IVRCL INFRASTRUCTURES & PROJECTS IN - 7.41 1 - FS 12/08 >< 965
LIMITED via its funds
5. CINEMAX INDIA LTD. via its funds IN - 6.88 1 - FS 12/07 >< 20
6. MAN INDUSTRIES (INDIA) LTD via its funds IN - 6.38 1 - FS 12/07 >< 378
7. KANSAI NEROLAC PAINTS LIMITED via its IN - 6.28 1 - FS 06/08 >< 351
funds
8. KPIT CUMMINS INFOSYSTEMS LIMITED IN - 6.26 1 - FS 09/07 >< 57
via its funds
9. MADHUCON PROJECTS LTD. via its funds IN - 6.06 1 - FS 09/08 >< 186
10. JYOTHY LABORATORIES LTD. IN 5.76 n.a. 1 - OS 12/07 >< 98
11. KANSAI NEROLAC PAINTS LIMITED IN 5.62 n.a. 1 - SE 01/08 >< 351
12. ABG SHIPYARD LTD. via its funds IN - 5.57 1 - FS 09/08 >< 244
13. NRB BEARINGS LIMITED IN 5.50 n.a. 1 - OS 01/08 >< 84
14. NRB BEARINGS LIMITED via its funds IN - 5.44 1 - FS 01/08 >< 84
15. ABG SHIPYARD LTD. IN 5.27 n.a. 1 - SE 03/08 >< 244
16. CUMMINS INDIA LIMITED IN 5.04 n.a. 1 - SE 07/08 >< 689
17. CUMMINS INDIA LIMITED via its funds IN - 4.89 1 - FS 09/08 >< 689
18. ICI INDIA LIMITED via its funds IN - 4.37 1 - FS 03/08 >< 2
19. AXIS BANK LIMITED IN 4.08 n.a. 1 - SE 03/08 >< 1,099
20. INFOTECH ENTERPRISES LIMITED via its IN - 3.78 1 - FS 09/08 >< 169
funds
21. VOLTAMP TRANSFORMERS LTD. via its IN - 3.76 1 - FS 12/08 >< 170
funds
22. ONMOBILE GLOBAL LTD. via its funds IN - 3.63 1 - FS 09/08 >< 59
23. INFOTECH ENTERPRISES LIMITED IN 3.61 n.a. 1 - SE 03/08 >< 169
24. T V S MOTOR COMPANY LIMITED IN - 3.49 1 - SE 12/07 >< 837
25. MAHINDRA & MAHINDRA LIMITED IN 2.90 n.a. 1 - SE 12/07 >< 6,056
26. ESS DEE ALUMINIUM LIMITED via its funds IN - 2.88 1 - FS 12/07 >< 80
27. SATYAM COMPUTER SERVICES LIMITED IN - 2.88 1 - FS 12/08 >< 2,118
via its funds
28. TATA ELXSI LTD IN 2.79 n.a. 1 - SE 12/08 >< 101
29. TATA ELXSI LTD via its funds IN - 2.78 1 - FS 12/08 >< 101
30. BAJAJ HOLDINGS & INVESTMENT IN - 2.72 1 - FS 09/08 >< 3
LIMITED via its funds
31. HDFC BANK LTD via its funds IN - 2.65 1 - FS 06/08 >< 1,902
32. ZEE ENTERTAINMENT ENTERPRISES IN - 2.62 1 - FS 12/07 >< 462
LIMITED via its funds
33. DABUR INDIA LIMITED via its funds IN - 2.56 1 - FS 06/08 >< 597
34. MONNET ISPAT & ENERGY LIMITED via its IN - 2.53 1 - FS 06/08 >< 147
funds
35. SESA GOA LTD via its funds IN - 2.41 1 - FS 06/08 >< 957
36. MAHINDRA & MAHINDRA LIMITED via its IN - 2.30 1 - FS 09/08 >< 6,056
funds
37. GOKALDAS EXPORTS LTD. IN 2.22 n.a. 1 - SE 06/06 >< 269
38. DABUR INDIA LIMITED IN 2.21 n.a. 1 - SE 12/07 >< 597
39. T V S MOTOR COMPANY LIMITED via its IN - 1.99 1 - FS 09/08 >< 837
funds
40. REDINGTON (INDIA) LTD. via its funds IN - 1.95 1 - FS 03/08 >< 2,719
41. FIRSTSOURCE SOLUTIONS LIMITED via its IN - 1.92 1 - FS 03/08 >< 325
funds
42. PUNJAB NATIONAL BANK IN 1.89 n.a. 1 - SE 12/08 >< 1,924
43. GLAXOSMITHKLINE CONSUMER IN - 1.86 1 - FS 09/08 >< 335
HEALTHCARE LIMITED via its funds
44. GLAXOSMITHKLINE CONSUMER IN 1.80 n.a. 1 - SE 03/08 >< 335
HEALTHCARE LIMITED
45. STERLITE INDUSTRIES (INDIA) LIMITED IN 1.80 n.a. 1 - SE 12/08 >< 6,257
46. NAGARJUNA CONSTRUCTION COMPANY IN 1.73 n.a. 1 - SE 03/08 >< 915
LIMITED
47. SHREE CEMENTS LTD via its funds IN - 1.71 1 - FS 12/07 >< 522
48. KALPATARU POWER TRANSMISSION IN - 1.64 1 - FS 12/07 >< 671
LIMITED via its funds
49. KIRLOSKAR BROTHERS LIMITED via its IN - 1.55 1 - FS 09/08 >< 520
funds
50. STATE BANK OF INDIA IN 1.54 n.a. 1 - SE 12/08 >< 10,570 256,719
51. LAKSHMI MACHINE WORKS LIMITED via IN - 1.48 1 - FS 12/07 >< 562
its funds
52. PUNJAB NATIONAL BANK via its funds IN - 1.46 1 - FS 12/07 >< 1,924
53. BHARAT HEAVY ELECTRICALS LIMITED IN - 1.45 1 - FS 03/08 >< 4,963
via its funds
54. WIRE AND WIRELESS (INDIA) LIMITED via its IN - 1.38 1 - FS 12/07 n.a. n.a.
funds
55. PROCTER & GAMBLE HYGIENE AND IN - 1.35 1 - FS 12/07 >< 151
HEALTH CARE LIMITED via its funds
56. TATA STEEL LIMITED IN 1.34 n.a. 1 - SE 12/08 >< 32,935
57. MPHASIS LIMITED via its funds IN - 1.33 1 - FS 12/08 >< 606
58. BHARAT HEAVY ELECTRICALS LIMITED IN 1.23 n.a. 1 - SE 12/07 >< 4,963
59. ACC LIMITED IN 1.22 n.a. 1 - SE 10/07 >< 1,628
60. MAYTAS INFRA LIMITED via its funds IN - 1.16 1 - FS 09/08 >< 504
61. GRINDWELL NORTON LTD via its funds IN - 1.13 1 - FS 09/08 >< 107
62. ACC LIMITED via its funds IN - 1.10 1 - FS 10/08 >< 1,628
63. INFOSYS TECHNOLOGIES LTD. IN 1.10 n.a. 1 - SE 12/08 >< 4,177
64. ABB LIMITED via its funds IN - 1.05 1 - FS 03/08 >< 1,516
65. BEML LIMITED via its funds IN - 1.03 1 - FS 12/08 >< 646

* For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).