Prudential Plc , Britain's largest insurer, is offering its entire stake in Taiwan-listed China Life Insurance Co Ltd <2823.TW> in a deal worth about $160 million, IFR reported on Tuesday, citing a term sheet of the transaction.

Prudential is offering 179.5 million shares in China Life Insurance in a range of T$26.05 to T$26.3, the equivalent of a discount of 2 percent to 3 percent to Tuesday's close of T$26.85, added IFR, a Thomson Reuters publication.

HSBC Holdings PLC and UBS AG were hired to jointly manage the deal, IFR said.

(Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Ryan Woo)