Mumbai, May 18 -- In an exchange filing, ICICI Prudential Life said it had received an intimation from Prudential Corporation Holdings regarding Prudential plc's decision to acquire a controlling stake in Bharti Life Insurance Company.

Prudential plc said it has agreed to acquire a 75% stake in Bharti Life from Bharti Life Ventures and funds managed by 360 ONE Asset Management. The transaction remains subject to regulatory approvals and fulfilment of certain conditions.

The UK-based insurer said the acquisition forms part of a broader repositioning strategy for its India business and would provide it with management and operational control of a life insurance platform in the country.

Prudential plc chief executive officer Anil Wadhwani...