By P.R. Venkat
Prudential PLC has agreed to acquire a controlling stake in an Indian life insurer for $389 million, as the U.K. company seeks to expand its business in one of the world's fastest-growing insurance markets.
The U.K. insurer will acquire a 75% stake in Bharti Life Insurance as part of a broader effort to reposition its India operations, Prudential PLC said Sunday.
India is an attractive market because of low life-insurance penetration and strong demand for savings and protection products, it said.
Following completion of the acquisition, Prudential's India operations will include majority-owned Bharti Life Insurance and Prudential HCL Health Insurance. The company will also retain minority stakes in ICICI Prudential Asset Management Company Limited and ICICI Prudential Life Insurance Company Limited.
Prudential also said it expects to reduce its stake in ICICI Prudential Life Insurance to below 10% to comply with Indian regulatory requirements.
The acquisition will be funded through existing resources.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
May 17, 2026 19:53 ET (23:53 GMT)
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Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.