Prudential announced it has agreed to acquire a 75% stake in Bharti Life Insurance Company Limited from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management as part of a strategic repositioning of its India operations. The transaction, which remains subject to regulatory approvals and other closing conditions, involves an initial cash consideration of ₹3,500 crore, approximately $389 million.
The company said the acquisition is designed to strengthen its position in India’s life insurance market by giving Prudential majority ownership and operational control of a local life insurance business. Prudential noted that India represents a highly attractive market due to favorable demographic trends, structural growth opportunities, and low life insurance penetration levels.
Following the completion of the transaction, Prudential’s India operations will include majority-owned Bharti Life Insurance Company Limited and Prudential HCL Health Insurance Limited, along with minority stakes in ICICI Prudential Asset Management Company Limited and ICICI Prudential Life Insurance Company Limited.
Prudential said regulatory approvals related to the Bharti Life transaction are expected to require it to reduce its shareholding in ICICI Prudential Life Insurance Company Limited to below 10%. The company said it is engaging with regulatory authorities regarding the process and timing of any required divestment.
The acquisition is also expected to support broader distribution opportunities. Bharti Life plans to explore strategic distribution agreements with Bharti Airtel and 360 ONE following the transaction.
Prudential added that it continues to pursue regulatory approvals for its standalone majority-owned health insurance business in India, with operations expected to begin during 2026 pending approval.
The company stated that the transaction will be funded through existing resources. Prudential also disclosed the possibility of additional consideration of up to ₹700 crore ($78 million), contingent on the fulfillment of certain conditions.
Prudential said it maintained strong financial metrics as of December 31, 2025, including $4.3 billion in holding company cash and short-term investments, a Group leverage ratio of 13%, and a free surplus ratio of 211%. The company added that the transaction does not alter its previously announced plan to return $7 billion to shareholders between 2024 and 2027.
KEY QUOTE:
“India is a strategically important and exciting market for Prudential. By acquiring a controlling stake in Bharti Life, we are bringing together Prudential’s nearly 180 years of global insurance expertise and Bharti’s strong and growing local presence to serve the savings and protection needs of Indian consumers. Through this acquisition, we aim to contribute further to The Viksit Bharat Initiative and, by extending access to our products and services to customers in India, act as a catalyst for achieving ‘Insurance for All by 2047’. Our joint partnership with the ICICI group of companies, has, for many decades, provided high-quality financial services solutions in India. We deeply appreciate this partnership and value our relationship with them.”
Anil Wadhwani, CEO, Prudential plc
