Warburg Pincus explores sale of IndiaFirst Life stake – report

Group 1 - Warburg Pincus is considering divesting its 26% stake in IndiaFirst Life Insurance, valuing the company at over Rs100bn ($1.1bn) [1] - The stake is held through Warburg Pincus affiliate Carmel Point Investments India, with interest from various potential buyers including strategic investors and private equity firms [1][3] - The divestment process follows a previously planned IPO that was postponed due to market volatility [2] Group 2 - Warburg Pincus acquired the full 26% shareholding of Legal & General in June 2018, completing the purchase in early 2019, as Legal & General exited to focus on other markets [2] - Parties reviewing the opportunity include Prudential, BNP Paribas, and at least one South Korean life insurer, with market reference points including the listing of Canara HSBC Life [3] - The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, passed in December 2025, increases the foreign investment cap in insurance companies to 100% from 74% under the automatic route [4]