Bharti Axa to raise paid up capital by Rs 50 cr in March
Private sector life insurer Bharti Axa on Tuesday said it will make capital infusion of about Rs 50 crore by the end of March.
By PTI |
NEW DELHI: Private sector life insurer Bharti Axa on Tuesday said it will make capital infusion of about Rs 50 crore by the end of March.
"We have been making capital infusion once in every two months. The last investment was done in December and next tranche would be in March," said Bharti Axa CEO Nitin Chopra here.
The next investment would be in the range of Rs 40-50 crore, he said.
The total paid-up capital of the private insurer stood at about Rs 390 crore at the end of December 2007.
The company, which is currently operating from 77 branches across 66 cities, expects to increase number of branches to 250 by the end of March 2009.
On the product side, Chopra said, the company plans to launch a health insurance product in the next fiscal.
Meanwhile, the company introduced DreamLife Pension, a market-linked pension scheme.
The scheme enables policyholders to increase premiums with rising income, helping them build a larger kitty that beats eroding factors like inflation and allows for a good living standard after retirement.
"By virtue of being a market-linked pension product, it offers performance over the long-term and hence encourages investing early on in life," Chopra said.
Bharti AXA is a 74:26 joint venture between the Sunil Mittal-spearheaded Bharti Enterprises and French financial services firm AXA.
"We have been making capital infusion once in every two months. The last investment was done in December and next tranche would be in March," said Bharti Axa CEO Nitin Chopra here.
The next investment would be in the range of Rs 40-50 crore, he said.
The total paid-up capital of the private insurer stood at about Rs 390 crore at the end of December 2007.
The company, which is currently operating from 77 branches across 66 cities, expects to increase number of branches to 250 by the end of March 2009.
On the product side, Chopra said, the company plans to launch a health insurance product in the next fiscal.
Meanwhile, the company introduced DreamLife Pension, a market-linked pension scheme.
The scheme enables policyholders to increase premiums with rising income, helping them build a larger kitty that beats eroding factors like inflation and allows for a good living standard after retirement.
"By virtue of being a market-linked pension product, it offers performance over the long-term and hence encourages investing early on in life," Chopra said.
Bharti AXA is a 74:26 joint venture between the Sunil Mittal-spearheaded Bharti Enterprises and French financial services firm AXA.
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