Prudential plc operates in India through its long standing partnership with ICICI Bank in life insurance and asset management. The ICICI Prudential businesses rank among the largest private players in their markets.
Ownership and structure
Prudential holds a minority stake in ICICI Prudential Life Insurance alongside promoter ICICI Bank, and about 35 percent of ICICI Prudential Asset Management after selling shares in its 2025 IPO. In May 2026 it agreed to buy 75 percent of Bharti Life Insurance and is setting up Prudential HCL Health Insurance as a majority owned standalone health insurer. ICICI Prudential Life Insurance Company Limited is listed on the NSE and BSE under the symbol ICICIPRULI, with Prudential plc holding about 22 percent as of May 2026.
What India does for Prudential plc
India is a core insurance and asset management market for Prudential through its ICICI partnerships, and the Bharti Life acquisition and a new health insurer move it toward controlled businesses of its own.
Investment and deals
In May 2026 Prudential agreed to acquire 75 percent of Bharti Life Insurance for an initial cash consideration of Rs 3,500 crore, with up to Rs 700 crore more payable if certain conditions are met.
Prudential plc's India business
Prudential first entered India in 1923 through an overseas life assurance agency. It returned to India in 2000 through ICICI Prudential Life Insurance, a joint venture with ICICI Bank based in Mumbai.
ICICI Prudential Life Insurance employs about 20,000 people. Prudential is also a partner in ICICI Prudential Asset Management.
Key moves in India
- 1923: Prudential set up an overseas life assurance agency in India, which was later nationalised.
- 2000: Prudential returned to India through ICICI Prudential Life Insurance, a joint venture with ICICI Bank in which it held 26 percent.
- 2016: ICICI Prudential Life Insurance became the first insurer listed on Indian stock exchanges.
- 2025: Prudential sold about 10 percent of ICICI Prudential Asset Management in the fund house's December IPO, in which ICICI Bank sold no shares.
- 2026: In May Prudential agreed to buy 75 percent of Bharti Life Insurance from Bharti Life Ventures and 360 ONE Asset Management.
Where it operates
Prudential plc runs its India business from Mumbai.
At a glance
- Home country: United Kingdom
- Global headquarters: London
- Sector: Banking & Financial Services
- Business: Insurance
- Role of India: Financial services franchise, Investment portfolio
- India entity: ICICI Prudential Life Insurance Company Limited
- Listed in India: ICICI Prudential Life Insurance Company Limited (ICICIPRULI)
- India head office: Mumbai
- India offices: Mumbai
- India headcount: Not available
- In India since: 1923
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