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Prudential may exit life insurance joint venture with ICICI Bank
Prudential is reportedly considering exiting its life insurance joint venture with ICICI Bank, ICICI Prudential Life Insurance, where Prudential Corporation Holdings Ltd holds a 21.93% stake. Concurrently, Prudential is exploring a potential stake acquisition in Bharti Axa Life Insurance, with other foreign insurers also in discussions with the Bharti group-promoted company. This strategic move coincides with the Indian government allowing 100% foreign direct investment in the insurance sector, while ICICI Prudential Life remains a significant player in the Indian market.