New Delhi, July 1 -- India's insurance regulator has granted a certificate of registration to Prudential HCL Health Insurance Ltd, allowing it to begin health insurance operations in India.

The approval, granted at the Insurance Regulatory and Development Authority of India's (Irdai's) 136th Authority meeting on 29 June, makes Prudential HCL Health Insurance the country's eighth standalone health insurer, according to an Irdai press release issued on Tuesday. It is also the third insurance registration approved by the regulator this year.

Prudential HCL Health Insurance is a joint venture between the UK's Prudential Group and HCL Group. Prudential holds a 70% stake in the venture through its subsidiary, while HCL Group's Vama Sundari In...