
Prudential plc on Sunday announced to acquire a majority 75 per cent stake in Bharti Life Insurance for Rs 3,500 crore from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management.
Currently, Prudential is a partner with ICICI Bank with around 22 per cent stake in the life insurance venture. With the announcement of a majority stake in Bharti Life Insurance, Prudential has to pare back its stake in the existing venture to comply with regulatory requirements.