ICICI Prudential Life Insurance board approves dropping 'Prudential' brand

ICICI Prudential Life Insurance's board has approved changing the company's name to ICICI Life Insurance after its UK-based promoter, Prudential, sought investor status. The board has also approved Prudential's request for reclassification as an investor. This comes after Prudential acquired a majority stake in Bharti Life Insurance, which required it to exit its promoter role in the insurer.