Prudential-HCL JV takes shape with new entity

AT A GLANCE

- NARAYANAN V

PRUDENTIAL PLC AND a promoter entity of HCL Group have taken the next step in their health insurance joint venture by formally incorporating the company and appointing key board members, including HCL Healthcare CEO Shikhar Malhotra, according to people familiar with the development.

Sources said the two joint venture partners have set up a new entity named Prudential HCL Health Insurance, with its headquarters in Mumbai, late last month.