ICICI Prudential Life to seek IRDAI nod for Prudential's investor status

ICICI Prudential Life Insurance will seek IRDAI approval to reclassify Prudential Corporation Holdings from a promoter to an investor. The move follows an undertaking signed by ICICI Bank and Prudential to address potential conflict-of-interest concerns arising from Prudential's proposed 75% acquisition of Bharti Life Insurance. The acquisition requires Prudential to exit its promoter role.