ICICI Prudential Life Insurance has established a representative office in Dubai, making it the first private life insurer from India to open an office in the United Arab Emirates.
This establishment also represents the group’s second overseas office, after its first overseas office in the Kingdom of Bahrain. The new office will help the company further strengthen its capabilities to serve the vast non-resident Indian (NRI) population in the Gulf.
The office will promote and service the life insurance needs of NRIs through ICICI Prudential’s wide range of products, which include wealth creation, education insurance, retirement solutions and health solutions.
Bhargav Dasgupta, executive director of ICICI Prudential Life Insurance, said: ICICI Prudential is delighted to announce the opening of its Dubai office. GCC is an important region for ICICI Prudential’s future growth plans and the United Arab Emirates (UAE), as one of the fastest-growing economies with a large NRI population, is key to this growth.
The booming UAE economy has resulted in greater wealth for NRIs, most of whom are seeking to use their enhanced earnings to secure the future of their families back home in India, be it for their retirement planning, child’s education or wealth creation needs. ICICI Prudential’s range of insurance products is ideally suited to meet all these needs in a comprehensive manner, Mr Dasgupta continued.