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Bharti Axa Life Insurance Ltd

Bharti Axa Life Insurance Ltd

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Published by Bhavik Jain

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Published by: Bhavik Jain on Aug 01, 2012
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05/13/2014

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BHARTI AXA LIFE INSURANCE LTD .
Bharti AXA Life Insurance is a joint venture between Bharti, India's leading privatetelecom company and AXA, world leader in financial protection and wealthmanagement. Their philosophy is to build around the promise of making people "LifeConfident"...Bharti Enterprises and AXA Asia Pacific Holdings Limited (AXA) signed anagreement to establish a joint venture named Bharti AXA Life Insurance CompanyLimited to carry on life insurance business in India.August 26, 2005, New Delhi : Bharti Enterprises and AXA Asia Pacific HoldingsLimited (AXA) signed an agreement to establish a joint venture named Bharti AXALife Insurance Company Limited to carry on life insurance business in India.Under the agreement AXA has a 26% equity interest in the joint venture, while Bhartiholds the balance. AXA, a global leader in insurance business, enabled the company
to have access to AXA’s global life insurance and asset management expertise. Bharti
 brought its strong local market knowledge, reputation and India-wide retail presence.
“The insurance sector in India provides a mega opportunity for private players like
 Bharti Axa Despite the strong growth witnessed by the sector in the recent years,nearly 80% of the Indian population is without life insurance coverage. As one of 
India’s leading business conglomerates having an established brand and a significant
 presence in the retail space, Bharti has inherent advantages in being a part of thisgrowth story. In AXA, Bharti has a global leader as its partner, one that is known forits expertise and best practice across the world. More importantly, this new venturealso fits into our strategy of taking on projects that make a difference to the society atlarge.This joint venture is an opportunity for AXA to enter the Indian life insurance market,one of the most attractive emerging insurance markets. India is a fast growingeconomy and a huge market with more than 1.1 billion people. This coupled with alarge middle class and increasing income levels will drive growth in the insurancemarket. Bharti is a well-established and financially strong group whose capabilitiesand network will be of significant value to the joint venture.The joint venture invested in the region of Rs. 500 crores (115 Million USD) over the
 
first three to four years of operations, reflecting both partners’ commitment to quickly
 establish a strong foothold in the Indian market.The joint venture commenced business in the first half of 2006, subject to IRDA,FIPB and other statutory approvals.
Vision
To be a leader and the preferred company for financial protection andwealth management in India
Strategy
To achieve a top 5 market position in India through a multi-distribution, multi-productplatform. To adapt AXA's best practice blueprints as a sound platform for profitablegrowth. To leverage Bharti's local knowledge, infrastructure and customer base. Todeliver high levels of shareholder return. To build long term value with our businesspartners by enhancing the proposition to their customers. To be the employer of choice to attract and retain the best talent in India. To be recognized as being closeand qualified by our customers
Strategic differentiators
· Strong partner Bharti - provides access to customer base of more than 20 million· Multi channel execution capability· Current Asia product range which is a strong match to products sold to the massand mass affluent· Global scale providing cost effective and speedy re-use of systems, products andbusiness capability· Strong AXA and Bharti brands which can be leveraged to attract and retain a highquality management team.

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