ICICI Bank on Monday said it intends to retain its majority shareholding in ICICI Prudential Life Insurance Company “ensuring our long-term commitment.”
The announcement, by way of a filing, comes on the heels of joint venture partner in the life insurance business Prudential Corporation Holdings saying Prudential Plc will acquire a 75% stake in Bharti Life Insurance as part of a strategic repositioning of its India operations for an initial cash consideration of ₹3,500 crore.
ICICI Bank holds 50.89% stake in the life insurance joint venture and Prudential Holdings 21.91%. The public shareholding is 27.20%.
Regulatory approvals for Prudential’s decision to acquire the controlling stake in Bharti Life require Prudential to reduce its shareholding in ICICI Prudential Life Insurance to under 10% as also cease to be a promoter of the company. Prudential said it is engaging with the relevant regulatory authorities and will seek an appropriate timeframe for any divestment that may be required.
Life insurance JV shares hit 52-week low
On Monday, ICICI Prudential Life Insurance Company shares ended 3.64% lower at ₹515.75 apiece on the BSE in a rebound after touching a new 52-week low at ₹489 intra-day.
Published – May 18, 2026 10:42 pm IST
