UK-based Prudential PLC may be exploring opportunities to sell its business process outsourcing unit in India. The captive — Prudential Process Management Services (PPMS) — is located in Mumbai and has an employee strength of 1,800 people. Sources in the industry say, the company is in initial discussions with investment bankers for a possible deal. “The company is looking to sell its BPO operations in India and has already started talks with bankers. The deal is, however, yet to be struck as discussions are initial,” said an industry source. The exact size of the transaction is not known. When contacted by ET, a Prudential spokesperson said, ”We don’t comment on market speculation. All that I can say is that we are undertaking a review of the work that has been done by the team in Mumbai but this was mentioned in our last results event.” PPMS services not just the operations of its parent in UK but is also supporting operations in Prudential Asia. The company is setting up an additional 300 member facility in Mumbai where actuarial and market analysis will be done, in addition to back office work of insurance policies that is currently being done. The company’s spokesperson added that nearly one third of the company’s customer services are done out of its India captive. PPMS is the back office of Prudential PLC — an international retail financial services group which provides annuities, corporate pensions, with-profits and unit-linked bonds, savings and investments products, protection policies, equity release and health insurance products. It is present in India through its joint venture with ICICI— ICICI Prudential Life Insurance Company for providing life insurance. […]