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The Economic Times
The Economic Times

ICICI Pru Life seeks investor status for Prudential after Bharti Life deal

PRU Prudential Insurance ICICI Bank ICICI Prudential Life Insurance United Kingdom

New Delhi, UK-based Prudential Corporation Holdings Ltd, one of the promoters of ICICI Prudential Life Insurance, will seek regulatory approval for its classification from promoter to investor in the insurance venture with ICICI Bank.

ICICI Bank has entered into a Letter of Undertaking on July 4, with Prudential Corporation Holdings Ltd (Prudential) (Undertaking) pertaining to non-exercise of certain rights by Prudential relating to subsidiary ICICI Prudential Life Insurance Company, subject to approval of the company's board and/or other statutory/regulatory approvals, ICICI Bank said in a regulatory filing.

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