Prudential eyes growth in India as it posts 2% decline in new business profit for FY2024

[SINGAPORE] Prudential is betting on India in search of growth, aiming to expand its business in the world’s fifth-largest and fastest-growing economy.

“India is a strategic market, and we are looking at opportunities to grow both our life as well as health businesses,” said chief executive officer Anil Wadhwani during an earnings call after the release of its 2024 financial year results on Thursday (Mar 20). 

Wadhwani also highlighted Prudential’s focus on “looking at opportunities to create shareholder value”, particularly given the current state of Indian capital markets. One such opportunity includes the potential listing of its Indian joint venture, ICICI Prudential Asset Management, which will involve the partial sale of its shares. The transaction is subject to market conditions, requisite approvals and other considerations.