Prudential Health India.Prudential plc (UK) and HCL Group announced a 70:30 joint venture in March 2025 to launch a standalone health insurance business in India.

Hyderabad: The Insurance Regulatory and Development Authority of India (IRDAI) has granted Certificate of Registration to Prudential HCL Health Insurance to carry on health insurance business in India.

Prudential HCL Health Insurance Limited is a joint venture between the Prudential Group (UK) and the HCL Group (India).

Prudential Health India.Prudential plc (UK) and HCL Group announced a 70:30 joint venture in March 2025 to launch a standalone health insurance business in India.Prudential holds 70 per cent via a subsidiary, while Vama Sundari Investments (HCL) holds 30 per cent, with plans for a greenfield, digitally-enabled deployment.

Earlier, Prudential plc announced the appointments of Amit Dave as CEO and MD and Abhishek Saraf as chief operating officer of the health insurance joint venture.

With this registration, the number of standalone health insurers operating in India has increased to eight.

This is the third registration granted by IRDAI during the calendar year 2026.

Anil Wadhwani, Chief Executive Officer, Prudential plc, said: “India is a key strategic market for Prudential and we have a deep connection with the country having opened our first branch in Kolkata in 1923. Today, we have a significant presence with life insurance and asset management businesses providing a comprehensive offering of insurance and wealth products.

India’s growing economy, population and middle class create significant opportunities for growth in its insurance market, especially in the health, savings, protection, and retirement sectors. Transforming access to healthcare and increasing insurance penetration are strategic priorities for Prudential and through our comprehensive health solutions we aim to offer help to millions of Indian consumers when they need it most, he said.