New Delhi [India], May 17 (ANI): Bharti Enterprises on Sunday announced that Prudential plc ('Prudential'), a leading insurer and asset manager in Asia and Africa, has agreed to acquire a 75 per cent stake in Bharti Life Insurance Company Limited ('Bharti Life'), one of India's leading life insurance providers, from Bharti Life Ventures Pvt Ltd (and other selling shareholders), according to a press release by Bharti Enterprises.

Commenting on the development, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, said, 'We are delighted to welcome Prudential Plc as the controlling shareholder of Bharti Life, further accelerating its growth trajectory. Prudential's experience and global scale, combined with Bharti's strong track record, create a formidable alliance to tap into the immense potential of India's life insurance sector. This partnership opens new opportunities for Bharti Life's employees and further reinforces the strategic relationship between India and the United Kingdom.'

Karan Bhagat, Founder, MD & CEO, 360 ONE, said, 'Our private equity funds are pleased to have made a meaningful investment in Bharti Life Insurance and we have been encouraged by the company's market-leading growth and strong momentum. Today's transaction reflects both its current performance and long-term potential. We are also delighted to welcome Prudential PLC's controlling investment in Bharti Life Insurance and look forward to continuing the distribution of the company's products through our network.'

This transaction comes with India's life insurance sector undergoing rapid transformation, driven by digital adoption, increasing awareness, and rising demand for financial protection solutions. The market continues to present strong structural growth opportunities, supported by favorable demographics and relatively low life insurance penetration, indicating significant unmet demand.

Bharti Life Insurance, an entity of Bharti Enterprises, has built a strong presence in India through innovative life insurance solutions and an expanding footprint. The investment will support Bharti Life's next phase of growth by enhancing its product offerings and expanding its distribution reach to better serve evolving customer needs.

Bharti Life's strong local presence, combined with Prudential's established insurance expertise, is expected to expand access to life and health protection solutions across the country, supported by the combined brand strength and operational capabilities of both organisations.

Completion of the transaction remains subject to the receipt of regulatory approvals and the satisfaction of other conditions. (ANI)