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Bharti proposes to acquire its JV partner AXA's 49% stake in Bharti AXA Life Insurance
The transaction is expected to close by December 2023

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Bharti set to buy out AXA's 49% stake in Bharti AXA Life Insurance

Name: Bharti set to buy out AXA's 49% stake in Bharti AXA Life Insurance
Uploaded: 2023-10-11T19:23:04.000+05:30
Duration: T00M27S
Channel: Editorji News Desk
Description: Currently, France-based AXA owns 49 per cent stake in the joint venture with Bharti

Currently, France-based AXA owns 49 per cent stake in the joint venture with Bharti

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Bharti set to buy out AXA's 49% stake in Bharti AXA Life Insurance

Bharti Group has announced that it's acquiring AXA's 49% stake in Bharti AXA Life Insurance through a binding agreement. Following this transaction and pending regulatory approvals, Bharti Life Ventures Private Limited (BLVPL) will become the sole owner of the life insurance company. Bharti initially had a partnership with AXA, where AXA owned a 49% stake. The deal is expected to close by December 2023.

In 2020, as part of their strategic decisions, Bharti and AXA also merged Bharti AXA General Insurance with ICICI Lombard, and AXA exited their shareholding in ICICI Lombard.

Bharti's aim is to ensure the continued growth of the life insurance business in the Indian market. They are actively engaging with potential strategic and financial partners to further expand this business.