Prudential buys 75% stake in Bharti Life
Prudential plc has agreed to acquire a 75% controlling stake in Bharti Life Insurance Company Limited for an initial cash consideration of $389m, with a potential additional $78m. This acquisition will necessitate Prudential reducing its current 22% minority shareholding in ICICI Prudential Life Insurance Company Limited to below 10% to comply with local regulations. The deal strengthens Prudential's presence in India, alongside its holdings in Prudential HCL Health Insurance and ICICI Prudential Asset Management, and aims to secure distribution agreements with Bharti Airtel and 360 ONE.