Prudential Corporation Plans To Sell Stake In ICICI Prudential Life Insurance To Bharti AXA
· Free Press Journal
The 25-year-old partnership in the Indian insurance sector may come to an end, with the United Kingdom-based Prudential Corporation Holdings planning to exit from the joint venture with ICICI Bank.
Prudential is looking to exit from ICICI Prudential Life Insurance, its life insurance joint venture with ICICI Bank, according to a report by Business Standard.
Visit asg-reflektory.pl for more information.
Currently, Prudential Corporation Holdings holds a 21.93 percent stake in the insurance company, while ICICI Bank owns 50.95 percent. The listed insurance major of India has a market capitalisation of Rs 85,393 crore.
ICICI Prudential Life Reports February 2026 Premium Growth With NB Premium At ₹21.48 BillionAccording to the report, Prudential is planning to sell its stake to Bharti AXA Life Insurance, which itself is a joint venture between Bharti Enterprises and Paris-based AXA Group, established in 2006.
“The government’s move to allow 100 percent foreign direct investment in the insurance sector is expected to create multiple opportunities for global players. Prudential has also closely observed the Indian insurance market due to its presence for the past 25 years and is quite familiar with the landscape,” the report quoted a source as saying.
Other foreign insurers are also in talks with the Bharti Group-promoted company to buy into the business.
ICICI Prudential Life Sees 30% Profit Jump In Q3, Builds On Steady Growth From Earlier QuartersICICI Prudential was one of the first private sector life insurance companies to operate in India. The firm was established in the year 2000 following the opening of India’s insurance sector to foreign players.
Over the years, it has grown to become India’s third-largest private sector life insurer by new business premium, behind SBI Life Insurance and HDFC Life Insurance.
Based on new business premium, the company had a market share of 5.7 percent in FY25, up from 4.8 percent in FY24, according to the report by Business Standard.
The insurance firm collected premiums of Rs 19,228.63 crore in the first 11 months of the current financial year, a 2.42 percent year-on-year increase.