The Tatas will have to either buy out the 26 per cent stake in its life insurance joint venture or rope in another partner if Prudential UK buys out the Asian life insurance business of American International Group (AIG).
It is a real life story. A story of an insurer that has managed to hold on to its lead in the marketplace for seven years.
Prudential, the second biggest British insurance group, on Thursday announced that it might axe 2,000 jobs in the UK and 1,000 jobs in India to reduce costs despite posting a pre-tax net profit of 1.98 billion in 2006.