Prudential plans to acquire 75% stake in Bharti life insurance
British insurer Prudential has announced an agreement to acquire a 75% stake in Bharti Life Insurance Company, marking a major step in the restructuring of its operations in India.
The stake will be purchased from Bharti Life Ventures and 360 ONE Asset Management as part of a strategic plan to strengthen Prudential’s presence in the Indian insurance market. The deal involves an initial cash payment of approximately 35 billion rupees (around 364.7 million dollars), with an additional conditional payment of up to 7 billion rupees depending on future terms.
Once completed, Prudential’s operations in India will include majority ownership of Bharti Life Insurance and Prudential HCL Health Insurance, alongside minority investments in other financial entities such as ICICI Prudential Asset Management Company and ICICI Prudential Life Insurance Company.
The company stated that regulatory approval will require it to reduce its stake in ICICI Prudential Life Insurance to below 10%, and discussions with authorities are currently ongoing.
This acquisition reflects Prudential’s strategy to strengthen its position in India, a market considered highly attractive for long-term insurance growth. The deal is also expected to enhance collaboration with Bharti Enterprises and its affiliated businesses, particularly in distribution networks.
Bharti Life Insurance is also expected to explore strategic partnerships with Bharti Airtel and 360 ONE to expand its customer reach and services.
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