US-based financial services provider Prudential Financial has entered into an agreement with DLF, a real estate development company in India, to establish a life insurance joint venture company in India.

<p>Under the terms of the agreement, DLF will hold a 74% stake while Prudential will own the remaining 26% in the new joint venture company, DLF Pramerica Life Insurance Company. <br /><br />Following regulatory approval from the Insurance Regulatory and Development Authority, the new company will be established in the coming months and will offer life insurance products to consumers in India. <br /><br />India&#0039;s rapid development has created new opportunities for people seeking to protect their families using life insurance products, said Rodger Lawson, Prudential Financial&#0039;s vice chairman responsible for the international division. We are delighted to work with a partner like DLF to deliver the benefits of life insurance products to Indian customers who, for the most part, continue to be under-insured and under-served.</p>