Prudential, HCL Partner for Indian Insurance JV

UK-based Prudential Plc is partnering with Vama Sundari Investments, an HCL Group company, to establish a new health insurance joint venture in India. Prudential Group Holdings will hold a 70% stake in this partnership, while Vama Sundari will own 30%, with Amar Joshi set to lead the venture as CEO pending regulatory approval. This collaboration is part of Prudential's strategy to tap into India's rapidly growing health insurance market, which is expanding at over 20% annually. The venture aims to support the Indian government's 'Insurance for All by 2047' initiative by enhancing access to quality health insurance. Prudential, which has been present in India since 1923, sees significant growth opportunities in the country's insurance market due to its expanding economy and middle class. The initiative represents Prudential's dedication to increasing healthcare accessibility and insurance penetration in India.