The Amwins-Dragoneer-KKR consortium is finalising documentation and financing for its proposed A$7.7bn (US$5.5bn) acquisition of Steadfast after entering the final stages of due diligence.
The deal forms part of Prudential's broader India strategy, alongside its health insurance venture and minority holdings in ICICI Prudential businesses.
Group says it aims to build a larger, technology-driven life insurer focused on profitability, operational efficiency and ageing-related insurance demand.