Prudential HCL Health Insurance, a joint venture between Prudential (HKG:2378, SGX:K6S) and HCL Group, began its operations in India on Thursday, marking its foray into the country as a standalone insurer, according to a same-day statement.

Prudential owns a 70% stake in the joint venture company, while HCL holds the remaining 30% shareholding. Prudential HCL received approval from the Insurance Regulatory and Development Authority of India on July 1 to enter the Indian market.

Prudential Health India has access to a network of more than 12,000 hospitals and will service customers through an omni-channel approach.