Angel One is set to diversify its financial services portfolio through a joint venture with Singapore-based LivWell to establish a digital-first life insurance company.
Under the terms of the partnership, Angel One will hold a 26% stake, while LivWell Holding Company Pte Ltd will own the remaining 74%. A total investment of ₹400 Cr has been committed to the proposed entity, which will be formally incorporated upon securing all regulatory clearances, including approval from the Insurance Regulatory and Development Authority of India (IRDAI).
The upcoming joint venture aims to blend LivWell’s sectoral expertise with Angel One’s extensive digital reach. The broking platform reported an active client base of 32.47 million as of June 2025 and is positioning the venture as a move to deepen insurance penetration across the country.
Wilf Blackburn, former Regional CEO of Prudential Asia, has been named as the proposed Chairperson, while LivWell CEO Nikhil Verma will take charge as CEO of the new company.
“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,” said Angel One Group CEO Ambarish Kenghe.
The initiative comes at a time when India’s life insurance penetration remains significantly lower than the global average—at 4.2% compared to 7–8% globally. By entering the insurance space, Angel One also aims to broaden its revenue mix as competition intensifies within the broking industry.
The move reflects a wider trend of Indian fintech firms branching into adjacent verticals. Recent entrants in the stock broking space include Jio Financial Services, MobiKwik, and Flipkart-backed super.money. Companies like PhonePe, CRED, and BharatPe are also expanding their presence across the financial services landscape.
India’s fintech industry is projected to become a $2.1 trillion opportunity by 2030.
