Prudential buys 75% stake in Bharti Life

The deal carries an initial cash consideration of $389m payable at completion.

Prudential plc has agreed to acquire a 75% controlling stake in Bharti Life Insurance Company Limited from Bharti Life Ventures Pvt. Ltd. and 360 ONE Asset Management.

The deal involves an initial cash consideration of $389m (₹3,500 crore) payable upon completion, which will be funded from Prudential's existing resources. 

An additional consideration of up to $78m (₹700 crore) may be paid subject to certain conditions.

The transaction is subject to regulatory approvals. 

To comply with local regulations, Prudential expects it will need to reduce its current 22% minority shareholding in ICICI Prudential

Life Insurance Company Limited to below 10%. 

The company is currently engaging with regulatory authorities to establish a timeframe for this divestment. 

Proceeds from the sale will be used to fund future business growth, with any remaining capital added to Prudential's free surplus.

Following the completion of the acquisition, Prudential's operations in India will comprise majority stakes in Bharti Life Insurance and

Prudential HCL Health Insurance, alongside minority holdings of 35% in ICICI Prudential Asset Management and the reduced stake in ICICI Prudential Life.

As part of the expansion, Bharti Life aims to secure strategic distribution agreements with Bharti Airtel and 360 ONE.

Meanwhile, Prudential is proceeding with regulatory approvals for its standalone health insurance business, which is scheduled to begin operations in 2026.