Prudential Health India commences operations to tap fast-growing health insurance market

20 August 2026, Hong Kong – Prudential HCL Health Insurance Limited (“Prudential Health India”) today announced the commencement of operations, marking Prudential’s entry into India’s fast-growing health insurance market through a standalone health insurance business.¹

Majority-owned by Prudential plc (“Prudential”), with HCL Group holding a 30 per cent stake, Prudential Health India aims to make health insurance simpler to understand, easier to buy and more convenient to use. Through digital tools and services designed around customers’ needs, the company is entering a fast-growing market where gross written health insurance premiums are approximately USD 16 billion in FY 2026.²

As a leading insurance company in Asia and Africa, Prudential plc is deepening its presence in India where rising disposable incomes, favourable demographics, and an increased awareness of the importance of health and protection are reshaping the insurance landscape. In May, Prudential announced it is seeking to acquire a 75 per cent share in Bharti Life, in addition to its long-standing joint venture operations in Life Insurance and Asset Management. 

The launch represents an important milestone in Prudential’s health strategy for expanding access to healthcare and greater peace of mind for customers across Asia and Africa. As one of Asia’s largest health insurers, Prudential brings extensive experience in designing health insurance and supporting customers when they need medical treatment.

A digital-first, service-led health insurer positioned for India's growth

Prudential Health India offers customers access to a network of more than 12,000 hospitals. Its omnichannel model brings together personal advice through its agency network and the convenience of an AI-enabled direct-to-consumer (D2C) platform. Together with digitally enabled services, this makes it easier for customers to choose the right cover, manage their policy and get help when they need it most.

Naveen Tahilyani, Regional CEO, Indonesia, Malaysia, the Philippines, India, Africa; Group Agency and Health, Prudential plc, said: “India is a strategically important market for Prudential, with strong macroeconomic fundamentals, rising demand for healthcare, and significant headroom for innovation in customer experience. With Prudential Health India, we are building a differentiated health insurance business focused on providing a simpler, more accessible and seamless customer experience. By combining Prudential’s insurance and health capabilities with HCL Group’s technology and healthcare expertise, we aim to help more Indian families navigate their healthcare journey with confidence.”

Amit Dave, MD & CEO Designate, Prudential Health India, said: “We are committed to building insurance solutions that safeguard people against unforeseen health risks and ensure they are never alone in critical health moments. Our focus is to go beyond the traditional role of an insurer and be there for our customers at every stage of their health journey. By combining intelligent, proactive support with the right solutions before, during and after a health issue, we aim to make healthcare more accessible, seamless and reassuring. In doing so, we remain committed to supporting the Indian government’s vision of ‘Insurance for All by 2047’.”

Shikhar Malhotra, Executive Director, Vama Sundari Investments (Delhi) Private Ltd, said: “HCL’s entry into the health insurance sector is a natural extension of our capabilities in healthcare technology, digital transformation and innovation. As healthcare becomes increasingly consumer-led and technology-enabled, we see a significant opportunity to bring these strengths to an area that is fundamental to the health and financial security of millions of Indians.

“This partnership brings together highly complementary strengths: Prudential’s expertise in protection and insurance, and HCL’s capabilities in technology, digital transformation and healthcare. This venture reflects our shared ambition to help shape the next generation of health insurance by building a more customer-centric, technology-enabled and inclusive ecosystem, and make protection simpler, more personalised, accessible and responsive to evolving healthcare needs.”

¹ Prudential Health India received its Certificate of Registration from the Insurance Regulatory and Development Authority of India on 1 July 2026, enabling the company to begin operations.
² India’s growing health insurance market amounts to approximately USD 16 billion in gross written premiums in FY 2026, according to the General Insurance Council of India.

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About Prudential HCL Health Insurance Limited

Prudential HCL Health Insurance Limited is a standalone health insurance company and a joint venture between Prudential plc and HCL Group. The company offers health insurance solutions designed around customer needs, combining innovative products, AI-powered experiences, preventive health initiatives, and dedicated support services to help customers confidently manage their healthcare journeys. Its purpose is to help make health a family's greatest asset by ensuring families are never alone in critical health moments.

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

www.prudentialplc.com