Angel One, LivWell announce ₹4 billion JV for digital life insurance

Angel One and LivWell announce a joint venture to set up a digital-first life insurance firm in India with Rs 4 bn capital, aiming to improve access and affordability

Angel One on Wednesday said it proposes to enter a joint venture with LivWell, a Singapore-based lifestyle and wellness-focused insurtech, to set up a digital-first life insurance company, subject to regulatory approvals. Angel One is proposed to hold a 26 per cent stake in the company, with the remaining 74 per cent to be held by LivWell Holding Company PTE Ltd.

 

In its press release, the company said: “Angel One, India’s leading FinTech platform, proposes to enter into a JV with LivWell to promote a digital-first life insurance company, subject to regulatory approvals. The proposed company, with a capital infusion of Rs 4.0 billion, is being co-promoted by Angel One Ltd (26 per cent) and LivWell Holding Company PTE Ltd (74 per cent), with a shared vision of redefining access to life insurance in India through technology and trust.”

   

The proposed company will see a capital infusion of Rs 4 billion from both entities. LivWell is backed by Olympus Capital, an Asia-focused private equity firm with over $2.6 billion invested. Wilf Blackburn, former regional chief executive officer of Prudential Asia, is proposed to chair the venture, while Nikhil Verma, former deputy CEO of Aviva Vietnam, is proposed to lead as CEO.

 

Angel One and LivWell aim to address underinsurance in the country with “simple, reliable and protection-led offerings, backed by seamless digital experiences. The JV will focus on operating on a digital-first architecture, leveraging tech-driven automation and personalisation to make insurance affordable, accessible and aligned to real-life needs,” the release said. 

 

Ambarish Kenghe, group CEO at Angel One Limited, said: “As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms. This partnership also deepens our offerings across the financial lifecycle—bringing us closer to delivering a seamless, end-to-end experience across savings, investing and protection. The products sourced from this JV will help strengthen our digital distribution framework for the protection segment, further fortifying our long-term association with our clients.”

 

“At LivWell, we have seen how protection products, when delivered with simplicity and purpose, can drive meaningful impact at scale. In our first market, Vietnam, embedded, digital-first insurance models have demonstrated strong potential for scale, proving that trust and reach can go hand in hand. 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,” said Nikhil Verma, CEO, LivWell.