Prudential plc CEO Expresses Strategic Commitment to India in Meeting with Union Finance Minister Nirmala Sitharaman
- Written by Media Outreach
Centre Left: Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, Government of India; Centre Right: Anil Wadhwani, Chief Executive Officer, Prudential plc
Prudential provides life insurance solutions in India through ICICI Prudential Life Insurance Company Limited, a preeminent life insurer and the first private insurance company listed in India. It also has a market-leading asset management presence via a separate joint venture with ICICI Bank, ICICI Prudential Asset Management Co. Ltd. Earlier this year, Prudential announced plans to establish a standalone health insurance joint venture with Vama Sundari Investments (Delhi) Private Limited, a promoter company of the HCL Group.During the meeting, Mr. Anil Wadhwani remarked: "We are deeply proud of our heritage in India, which began with our first branch in Kolkata in 1923. India is a core strategic market for Prudential. As the country advances towards its vision of 'Insurance for All' and continues to address the challenge of underinsurance, we see significant opportunities to bring our global expertise in protection, savings, and health solutions to serve the evolving needs of Indian consumers. Our long-standing connection with India, including our sponsorship of the historic 1983 Cricket World Cup, India's first World Cup victory, reflects our commitment to its growth and aspirations."
Highlighting health as a shared strategic priority, Mr. Wadhwani conveyed the company's commitment to leveraging its global expertise and technology to help Indian consumers access affordable and quality healthcare coverage. This aligns with the Government of India's vision of "Insurance for All by 2047".
India is not only a key strategic insurance market but also an incredible source of talent. Prudential recently launched a Global Capability Centre in Bengaluru. This strategic hub serves as a global centre for technology, AI, data analytics, cybersecurity, and innovation.
Concluding the meeting, Mr. Wadhwani said: "India's economic progress over the past decade has been remarkable. With sustained capital investment in infrastructure and proactive government economic measures to stimulate growth, we remain excited about India's long term growth prospects. We look forward to continuing our constructive collaboration with the Indian government to support its development goals and to build enduring insurance and technology businesses."
During the visit, Mr. Wadhwani also met with senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT) and the Prime Minister's Office.
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