The joint venture aims to expand access to health insurance and support India’s “Insurance for All by 2047” vision.
Summary:
UK-based Prudential Group has announced a joint venture with Vama Sundari Investments (Delhi), a promoter company of HCL Group, to launch a new standalone health insurance company in India. Prudential will hold a 70% stake, while Vama Sundari will hold 30%. The partnership aims to address India’s rising healthcare needs and boost insurance penetration across the country. The venture is pending regulatory approval.
Main Story:
A Global Giant Steps into Indian Health Insurance
Prudential Group, the UK-based global insurance leader, is teaming up with Vama Sundari Investments (Delhi) of the HCL Group to set up a new health insurance venture in India. This partnership marks Prudential’s entry into the standalone health insurance space, with the company holding a 70% stake, and HCL’s promoter company holding 30%.
The move comes at a time when India’s demand for quality and affordable healthcare is rising, and the government is pushing toward its “Insurance for All by 2047” mission.
Why It Matters
India’s growing population, expanding middle class, and increasing health awareness have made health insurance one of the fastest-growing segments. This joint venture will focus on offering comprehensive health solutions to Indian consumers, especially those in underserved areas.
“This partnership is an important strategic step for us,” said Prudential CEO Anil Wadhwani. “India has always been close to our heart—we opened our first office in Kolkata in 1923. Today, with our life and asset management businesses already established here, entering health insurance is a natural next step.”
HCL Group’s Commitment to Health Access
Shikhar Malhotra, Executive Director of Vama Sundari Investments (Delhi), added, “We’re proud to partner with a trusted global name like Prudential. Our shared goal is to make quality health insurance more accessible across India and build a stronger healthcare ecosystem.”
He also emphasized that the collaboration would bring together the best of both companies—Prudential’s global insurance expertise and HCL’s deep understanding of Indian markets.
Looking Ahead
Pending regulatory approvals, the new entity will focus on designing health insurance products that offer value, flexibility, and support during medical emergencies. With India’s insurance sector evolving rapidly, this partnership is expected to play a big role in improving insurance penetration and healthcare outcomes across the nation.
