Prudential plc has agreed to acquire a 75% stake in Bharti Life Insurance Company Limited from Bharti Life Ventures and 360 ONE Asset Management for ₹3,500 crore (approximately $389 million), marking a significant expansion of its presence in India’s life insurance market.
The transaction remains subject to regulatory approvals and customary closing conditions. Prudential said an additional ₹700 crore (around $78 million) could become payable if certain agreed conditions are met.
Bharti Life operates through multiple distribution channels including proprietary networks, bancassurance partnerships, corporate agents and brokers. For the financial year ended March 31, 2026, the insurer reported 44% year-on-year growth in new business premiums, reaching ₹1,069 crore, while embedded value stood at ₹3,102 crore as of September 2025.
Prudential plans to fund the acquisition using existing resources. At the end of 2025, the group reported $4.3 billion in holding company cash and short-term investments alongside a leverage ratio of 13%.
The transaction also carries implications for Prudential’s existing holdings in India. Regulatory requirements are expected to require the insurer to reduce its stake in ICICI Prudential Life Insurance Company Limited below 10%, prompting discussions with regulators regarding the timing and structure of any divestment.
Following completion, Prudential’s India portfolio will include majority ownership of Bharti Life and Prudential HCL Health Insurance Limited, alongside minority positions in ICICI Prudential Asset Management and ICICI Prudential Life.
The move reflects growing international insurer interest in India’s life and health market, where rising insurance penetration, demographic growth and increasing demand for protection and savings products continue to attract strategic investment. Prudential said the acquisition will not alter its previously announced plan to return $7 billion to shareholders between 2024 and 2027, with proceeds from any ICICI Prudential Life divestment expected to support future growth initiatives and capital generation.
