ICICI Prudential Life, one of the leading private sector life insurer, on Fridayhas raised ₹1,200 crore of debt capital through a private placement of non-convertible debentures (NCDs). The private sector insurer has a solvency ratio of 205% as on September 30 against the regulatory requirement of 150%. The subordinated debt instrument carries AAA ratings from both Crisil and Icra. The NCDs will be listed on the wholesale debt market of the NSE. NS Kannan, the managing director and chief executive said, "We are delighted with the market response to our maiden subordinated debt capital raise through NCDs.

Source: Mint November 06, 2020 14:48 UTC