Angel One partners with Singapore’s Livwell for Rs 400 crore life insurance venture

New Delhi: Domestic brokerage Angel One has announced plans to invest Rs 400 crore in a new life insurance company, to be set up as a joint venture with Singapore-based Livwell Holding Company.

According to a company statement, Angel One will hold a 26% stake in the digital-first insurer, while Livwell will own the remaining 74%.

The initiative is being positioned as a response to what the statement describes as India's significant insurance coverage gap. "As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms," said Angel One's group chief executive, Ambarish Kenghe.

Wilf Blackburn, former regional CEO of Prudential Asia, is expected to chair the proposed entity. Nikhil Verma, previously deputy CEO of Aviva Vietnam, is proposed to take on the role of chief executive.

Livwell is backed by private equity firm Olympus Capital, which has existing investments in HDFC Bank, CreditAccess Grameen, Thai Credit Bank, Karur Vysya Bank, Utkarsh Small Finance Bank and CreditAccess Life Insurance.

"India presents a unique opportunity not just because of the protection gap, but because consumer expectations have fundamentally evolved. With Angel One's digital reach and market credibility, we see a strong alignment to build a next-generation digital-insurer that is relevant to today's customers, accessible and future-ready," Verma said.