ICICI Pru Life mulls bid for Sahara's life insurance biz

Liabilities of Sahara Life are less than 1% of ICICI Pru's balance sheet

ICICI Prudential Life Insurance has shown interest in taking over Sahara Life Insurance, which was asked to close down its business by the Insurance Regulatory and Development Authority of India (Irdai) last month. 

In an announcement to the BSE on Tuesday, ICICI Prudential Life said, “We have expressed our interest to evaluate taking over policyholders' liabilities and assets of Sahara Life.” 

It said the last reported policyholders' liabilities of Sahara Life was about Rs 900 crore, less than 1 per cent of ICICI Prudential Life's balance sheet. “We are evaluating the way forward,” ICICI Prudential Life said in its statement.