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