Established as a joint venture between ICICI Bank Limited[6] and Prudential Corporation Holdings Limited,[7] ICICI Prudential Life is engaged in life insurance and asset management business.

[13] In 2015, the company had crossed ₹1 trillion (US$12 billion) mark in assets under management (AUM).

[15] In the IPO, parent company ICICI Bank Limited offloaded 12.65% stake worth ₹5,000 crore (US$744.1 million).

[20] In 2020, ICICI Prudential Life had crossed ₹2 trillion (US$23 billion) mark in assets under management (AUM).

[22] In 2022, ICICI Prudential Life Insurance company had crossed ₹2.5 trillion (US$30.75 billion) mark in AUM.