Prudential plc said it has agreed to acquire a 75% stake in Bharti Life from Bharti Life Ventures and funds managed by 360 ONE Asset Management. The transaction remains subject to regulatory approvals and fulfilment of certain conditions.

The UK-based insurer said the acquisition forms part of a broader repositioning strategy for its India business and would provide it with management and operational control of a life insurance platform in the country.

Prudential plc chief executive officer Anil Wadhwani described India as a strategically important market and said the deal would combine Prudential's global insurance expertise with Bharti's domestic reach to expand access to savings and protection products.

The company added that after completion of the transaction, its India operations would include majority ownership in Bharti Life Insurance Company and Prudential HCL Health Insurance, alongside minority holdings in listed entities including a 22% stake in ICICI Prudential Life Insurance and 35% in ICICI Prudential Asset Management Company.

However, Prudential said regulatory approvals linked to the proposed transaction are expected to require it to reduce its shareholding in ICICI Prudential Life to below 10%, which would also result in the company ceasing to be a promoter of the insurer. Prudential currently holds 31,75,17,279 equity shares, representing 21.91% stake in ICICI Prudential Life.

The company said it is in discussions with regulatory authorities and would seek an appropriate timeline for any required divestment in the interest of shareholders.

The acquisition involves an initial cash consideration of Rs 3,500 crore, with an additional contingent payout of up to Rs 700 crore tied to certain conditions. Prudential said the transaction would be funded through existing resources.

Prudential also said Bharti Life may explore strategic distribution partnerships with Bharti Airtel and 360 ONE as part of its expansion plans in India.

ICICI Prudential Life Insurance Company is promoted by ICICI Bank Limited and Prudential Corporation Holdings. The company began its operations in fiscal year 2001 and has consistently been amongst the top private sector life insurance companies in India on Retail Weighted Received Premium (RWRP) basis. The company offers an array of products in the protection and savings category. At 31 March 2026, the company had an AUM of Rs 3.14 lakh crore and a total in-force sum assured of Rs 46.11 lakh crore.

On a consolidated basis, ICICI Prudential Life Insurance Company's net profit rose 61.94% to Rs 623.91 crore while total income fell 73.40% to Rs 4,221.02 crore in Q3 March 2026 over Q3 March 2025.

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