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Mumbai: British insurer Prudential has agreed to acquire a 75% stake in Bharti Life Insurance for ₹3,500 crore to take management control of an Indian life insurance company for the first time.
Bharti Enterprises will pare its stake in the company to 25% from 85% while 360 One Asset Management will sell its entire 15% holding and exit the venture, the companies announced on Sunday.
Regulatory approvals for the transaction are expected to require Prudential to reduce its shareholding in ICICI Prudential Life Insurance Company to below 10% from 22% now, the insurer said, adding that it is in discussions with regulators on the timeline and process for the divestment.
"India is a strategically important and exciting market for Prudential," said Anil Wadhwani, CEO of Prudential plc.
The insurer also has a 35% holding in ICICI Prudential Asset Management Company. Separately, it is also setting up a standalone health insurance venture in India with the HCL Group, with operations expected to commence in 2026 subject to regulatory approvals.
Prudential said the ₹3,500-crore transaction will be funded through existing resources, noting that the holding company had cash and short-term investments of $4.3 billion, or about ₹41,280 crore, as of December 31, 2025, alongside a group leverage ratio of 13% and a free surplus ratio of 211%.
Part of the proceeds from any future divestment in ICICI Prudential Life could be used to support growth in the India business, the company said.
"This partnership opens new opportunities for Bharti Life's employees and further reinforces the strategic relationship between India and the United Kingdom," said Sunil Bharti Mittal, founder and chairman of Bharti Enterprises.
Prudential to Buy 75% in Bharti Life
Bharti Life, formerly Bharti Axa Life Insurance, reported a 44% year-on-year jump in new business premium in the financial year ended March 2026 at `1,069 crore, nearly three times the industry’s average growth rate. For 360 One, the deal represents both a profitable monetisation of its investment and an opportunity to remain tied to the insurer’s future growth. The wealth manager is expected to continue distributing Bharti Life products through its network under a potential strategic distribution arrangement with Prudential.
Bharti Enterprises will pare its stake in the company to 25% from 85% while 360 One Asset Management will sell its entire 15% holding and exit the venture, the companies announced on Sunday.
Regulatory approvals for the transaction are expected to require Prudential to reduce its shareholding in ICICI Prudential Life Insurance Company to below 10% from 22% now, the insurer said, adding that it is in discussions with regulators on the timeline and process for the divestment.
The insurer also has a 35% holding in ICICI Prudential Asset Management Company. Separately, it is also setting up a standalone health insurance venture in India with the HCL Group, with operations expected to commence in 2026 subject to regulatory approvals.
Prudential said the ₹3,500-crore transaction will be funded through existing resources, noting that the holding company had cash and short-term investments of $4.3 billion, or about ₹41,280 crore, as of December 31, 2025, alongside a group leverage ratio of 13% and a free surplus ratio of 211%.
Part of the proceeds from any future divestment in ICICI Prudential Life could be used to support growth in the India business, the company said.
"This partnership opens new opportunities for Bharti Life's employees and further reinforces the strategic relationship between India and the United Kingdom," said Sunil Bharti Mittal, founder and chairman of Bharti Enterprises.
Prudential to Buy 75% in Bharti Life
Bharti Life, formerly Bharti Axa Life Insurance, reported a 44% year-on-year jump in new business premium in the financial year ended March 2026 at `1,069 crore, nearly three times the industry’s average growth rate. For 360 One, the deal represents both a profitable monetisation of its investment and an opportunity to remain tied to the insurer’s future growth. The wealth manager is expected to continue distributing Bharti Life products through its network under a potential strategic distribution arrangement with Prudential.
