Prudential Plc Names Amit Dave CEO, Abhishek Saraf COO for India Health Venture

Prudential Plc has appointed Amit Dave as Chief Executive Officer (CEO) and Managing Director of its India health business, along with Abhishek Saraf as Chief Operating Officer, as per The Economic Times report.  

The appointments come as the insurer prepares to launch a standalone health insurance venture in India with HCL Group. Both roles are subject to regulatory approval and are tied to the progress of the proposed venture. 

Venture Structure and Ownership 

The health insurance business is structured as a 70:30 joint venture. Prudential will hold the majority stake, while HCL Group will own 30% through its promoter entity, Vama Sundari Investments. 

The partnership was first announced in March 2025 and is intended to operate as a standalone health insurer in the Indian market. 

Delays and Regulatory Requirements 

The launch has been delayed for more than a year due to approval requirements under India’s Press Note 3 regulations. These rules require government clearance for investments involving countries that share land borders with India. 

Additional complications linked to downstream ownership structures also contributed to the delay. Recent easing of these norms has helped move the approval process forward. 

Executive Backgrounds 

Amit Dave replaces Amar Joshi, who is stepping down. Dave was earlier president and chief distribution officer at Tata AIA Life Insurance. He has over 20 years of experience across distribution, partnerships, and product strategy. 

He will report to Naveen Tahilyani, Prudential’s regional Chief Executive for India and other markets. 

Abhishek Saraf has been with Prudential for more than 25 years and was most recently Group Chief Actuary. He will oversee finance, risk, compliance, and product functions, and will report to Dave. 

Read More: Hawelia Group Receives Approval to Complete Stalled Greater Noida Housing Project! 

Conclusion  

Prudential is expected to approach the Insurance Regulatory and Development Authority of India for final approval. The appointments set up the management structure as the company moves towards regulatory clearance for its India health insurance venture. 

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