Bharti-AXA JV gets Irda nod for life insurance
Bharti AXA life insurance company, the joint venture between the Bharti group and global insurance major AXA, on Friday received the final life insurance license approval from the Irda, reports Our Bureau.
By TNN |
NEW DELHI: Bharti AXA life insurance company, the joint venture between the Bharti group and global insurance major AXA, on Friday received the final life insurance license approval from the Irda, reports Our Bureau.
The company is now awaiting final product approvals ahead of its imminent launch. In compliance with Irda regulations, the Bharti group holds 74% in the JV and the remaining 26% is owned by AXA. The new entity plans to invest Rs 500 crore in its first three years of operation.
The Bharti AXA combine is expected to leverage Bharti Airtel’s distribution capabilities and AXA’s global insurance expertise to enter the market.
AXA, which already has 10 years of experience in India through its business process outsourcing units in Pune and Bangalore, will now introduce its successful customer service models from other Asian markets.
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