REPORT

SUBMITTED BY-MITHILESH RAI (TEAM -2) Group Ov erview Of BHARTI

Founded in 1976, by Sunil Bharti Mittal, Bharti has grown from being a manufacturer of bicycle parts to one of the largest and most respected business groups in India. With its entrepreneurial spirit and passion to undertake business projects that are transformational in nature, Bharti has created world-class businesses in telecom, financial services, retail, and foods. Bharti started its telecom services business by launching mobile services in Delhi (India) in 1995. Since then there has been no looking back and Bharti Airtel, the group's' flagship company, has emerged as one of the top telecom companies in the world and is amongst the top five wireless operators in the world. Through its global telecom operations Bharti group has presence in 21 countries across Asia, Africa and Europe - India, Sri Lanka, Bangladesh, Jersey, Guernsey, Seychelles, Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda, and Zambia. Over the past few years, the group has diversified into emerging business areas in the fast expanding Indian economy. With a vision to build India's finest conglomerate by 2020 the group has forayed into the retail sector by opening retail stores in multiple formats - small and medium - as well establishing large scale cash & carry stores to serve institutional customers and other retailers. The group offers a complete portfolio of financial services - life insurance, general insurance and asset management - to customers across India. Bharti also serves customers through its fresh and processed foods business.

The group has growing interests in other areas such as telecom software, real estate, training and capacity building, and distribution of telecom/IT products Bharti strongly believes in giving back to the society and through its philanthropic arm the Bharti Foundation it is reaching out to over 30,000 underprivileged children and youth in India.

An astute mix of global expertise and local understanding

Bharti AXA Investment Managers Private Limited is a joint venture between the Bharti Group represented by Bharti Ventures Limited, and AXA Group represented by AXA Investment Managers and AXA APH (through NMIPL).

Superior Risk Control Methodologies

Bharti AXA Investment Managers Private Limited was incorporated on 13th August, 2007 and is headquartered in Mumbai, the commercial hub of India. With a presence in more than 34 locations across the country within one year of the launchBharti AXA Investment Managers Private Limited was incorporated on 13th August, 2007 and is headquartered in Mumbai, the commercial hub of India. With a presence in more than 34 locations across the country within one year of the launch Bharti AXA Investment Managers aim to be an aggressive player in the Indian Asset Management Industry.

y y y y y y

Clearly define scope of responsibilities and empower people to deliver Provide people with the means to develop their competencies Consider individual training and development a priority investment Build organizations that are conducive to teamwork and that involve everyone Promote ongoing dialogue between managers and the people who report to them Make cultural difference a key source of strength

y y y y y

Team Spirit Integrity Innovation Pragmatism Professionalism

Vision : To be the preferred Insurance Broker of India by virtue of our strong ethics, efficient workforce and unparalleled customer experience. Mission : To create awareness about Insurance to the masses and distribute the benefits of Risk Management to all.

Goals :

1. Nation wide presence. 2. Simplify Insurance. 3. Make the claim settlement procedure completely hassle free Values : Honest, Reliable, Ontime Everytime

Objective : Our objectives are to enhance the degree of professionalism in the insurance selling interface and to provide risk management and professional consultancy guidance to the customer that helps strengthen our clients balance sheets thereby fostering higher levels of investor and customer confidence.

DRIVERS OF BHARTI AXA

Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA Life Insurance Co. Ltd. Prior to this, he was the Regional General Manager, Corporate Development and Strategy for AXA Asia Life.

V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance Company. He started his career as a Chartered Accountant in 1989 and over the past two decades has emerged as a stalwart in the financial sector. With over 8 years of rich experience in the Life Insurance industry, today, he stands as a storehouse of financial knowledge and expertise. His portfolio also boasts of extensive experience in diverse industrial segments like manufacturing and oil & gas.

Sushanto Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance Company Ltd. Prior to this, he was Director & Head Partnership Distribution & Group Business at Max New York Life Insurance Co. Ltd.

Priya Ranjan is Director - Human Resources at Bharti AXA Life Insurance Company. He brings to the business over 15 years of HR experience in diverse fields spanning financial services, information technology and manufacturing. He specialises in building large scale businesses right from their project days.

G L N Sarma became a part of the Bharti AXA Life family in mid-2006 and is currently Sr. Vice President and Chief & Appointed Actuary of Bharti AXA Life Insurance Company. He also plays the role of Chief Risk Officer at Bharti AXA Life.

Mark joined Bharti AXA Life Insurance Company as Chief Operations Officer (COO) on September 29, 2008 from AXA Australia.

AXA GROUP
History
In 1980, AXA did not exist. Over the next 30 years, the Group would grow to become a major international player.
Highlights of 2009

AXA announced the strengthening of its position in Central and Eastern Europe with the acquisition of minority interests held by the European Bank for Reconstruction and Development (EBRD) in AXA's Hungarian, Czech and Polish subsidiaries, and a transaction, currently under negotiation, pursuant to which AXA would acquire 100% of AXA Asia-Pacifi c Holding's (AXA APH) Asian businesses while an Australian partner would acquire 100% of AXA APH's Australia and New Zealand businesses. In addition, AXA announced that it intends to submit to the General Shareholders' Meeting on April 29, 2010 a proposed change in its corporate governance structure from a dual board structure (Supervisory Board and Management Boad) to an unitary board structure (Board of Directors) and will implement a new organization to support a new stage in its development with M. Franois Pierson, Chairman and Chief Executive Officer of AXA France and member of AXA's Management Board, and M. Christopher Condron, Chief Executive Offi cer of AXA Financial, Inc. (United States) and member of AXA's Management Board, assuming Group-wide responsibility on an international level for Property & Casualty insurance, and Life & Savings and Health businesses, respectively, in addition to their current operational responsibilities. Highlights of 2008 AXA pursues successfully its external growth strategy: consolidation of AXA existing activities, with the acquisition of Oyak's 50% stake in AXA Oyak, 2nd Turkish insurer, for 525 million dollars, and penetration of high growth potential markets, with the acquisition of 100% of the 3rd Mexican insurer, ING Seguros (for an amount of 1.5 billion dollars Statement- Henri de Castries - Chairman & CEO

"We have chosen a demanding business. If we do it right, then we enable our clients to be life confident because they feel reassured, protected and supported as they undertake important projects at various stages in their lives. Our vision of the business is what guides our daily work. It reflects the social and human aspects of Financial Protection, whose value to people has never been greater." Our business: Financial Protection Financial Protection involves offering our customers - individuals as well as small, mid-size and large businesses - a wide range of products and services that meet their insurance, protection, savings, retirement and financial planning needs throughout their lives. Aware and proud of our industry's contribution to the economic and social development of the community, we seek to do business responsibly by living up to consistent values and stakeholder commitments throughout the world. Our ambition We are working toward the shared ambition of attaining leadership in our core Financial Protection business, through the quality of our products and services as well as through superior performance. Our values Team spirit, Integrity, Innovation, Pragmatism, Professionalism. Our values are the foundation of our ambition. They serve as a guide, inspiring the actions and decisions of AXA employees. These values reflect our way of doing and thinking, for the benefit of our clients, shareholders, employees, business partners and the community.
y y y y y

Our commitments Learn more about... AXA's commitments AXA aspired to do business responsibly, and to build trust-based relationships with its stakeholders:

Our Clients: Consistently deliver efficient local service and adapted solutions, while adhering to the highest standards of professional conduct. Our Shareholders: Create lasting value by achieving operating performance that ranks among the best in the industry, and provide transparency financial information. Our Employees: Ensure professional fulfillment by offering a supportive and respectful workplace where people are empowered and the continuous development of competencies is encouraged.

Our Suppliers: Maintain excellent supplier relationships by adhering to a set of clearly defined procurement guidelines and promoting ongoing dialogue.
The Community: Act as a responsible corporate citizen by sharing our professional expertise with the community and sponsoring philanthropic initiatives. The Environment: Contribute to environmental preservation efforts by making available our environmental risk management capability and promoting environmentally sound practices in the workplace.

Our strategy
AXA's strategy is to combine organic and external growth to meet the challenge of operational excellence in all of the following areas: Product innovation Core business expertise (underwriting, claims management, pricing, investment performance) y Distribution y Quality of service y Productivity All AXA employees are champions of operational excellence. They are supported in this aim by the AXA Way continuous process improvement program.
y y

Leveraging the resources of the AXA Group, and in accordance with AXA's values and commitments, 214 044 people are working daily to execute this strategy.

AXA has set five operational priorities or catalysts for change, which together are known as the five cylinders of its growth:
y

y y

y y

Product innovation: a source of differentiation that reflects AXA desire to offer added value every time it introduces a new product in one of its markets. Core business expertise: AXA's goal is to offer the best service at the best price. Distribution management: a second source of differentiation that reflects AXA's aspiration of enhancing sales performance by lessening the administrative load on its distributors. Quality of service. Productivity: AXA seeks to reduce operating costs and improve quality every year. Cost reduction is an ongoing challenge, not a one-off reaction to a difficult operating environment.

Legal structure Capital Ownership As of June 9, 2010, AXA's fully paid up issued and outstanding share capital totaled 5,244,082,060.14 divided into 2,289,992,166 shares, each with a par value of 2.29 and eligible for dividends as of January 1, 2009. To the best of the Company's knowledge, the table below summarizes the ownership of its issued outstanding ordinary shares and voting rights as of December 31, 2009: Capital Ownership Number of shares Mutuelles AXA(b) Treasury shares held directly by the company Treasury shares held by Company subsidiaries (directly and indirectly)(d) Employees and agents BNP-Paribas SA General public 323,355,484 8,616,128(f) 17,766,863 Capital ownership 14.12% 0.38% Voting rights(a) 22.20% (0.31%)(c)

0.78% (1.12%) (c)

135,653,412 120,821,662 1,683,751,575

5.92% 5.28% 73.52%

6.84% 8.29% 61.24%

Number of shares Total

Capital ownership

Voting rights(a)

2,289,965,124 100,00% 100,00% (e) (a) In this table, voting rights' percentages are calculated on the basis that all outstanding ordinary shares are entitled to voting rights, notwithstanding the fact that certain of these shares may be deprived of voting rights by law or otherwise (for example, treasury shares held by AXA or its subsidiaries are deprived of voting rights under French law). (b) AXA Assurances IARD Mutuelle (11.08% of capital ownership and 17.41% of vot ing rights) and AXA Assurances Vie Mutuelle (3.05% of capital ownership and 4.79% of voting rights). (c) These shares will be entitled to vote when they cease to be treasury shares (e.g. upon their sale or other transfer to an unaffi liated third party). (d) Treasury shares as indicated in Note 13 to "consolidated fi nancial statements " included in Part 4 of this Annual Report. (e) Source: Euronext Notice of January 7, 2010. To the best of the Company's knowledge, no shareholder held more than 5% of the Company's share capital or voting rights as of December 31, 2009 except as indicated in the table above. Certain of the Company's shares are entitled to double voting rights as described in Part 5 - "Certain additional information" - "Voting rights" Section of this Annual Report. Of the Company's 2,289,965,124 outstanding ordinary shares as of December 31, 2009, 510,990,432 shares entitled their holders to double voting rights as of that date.

AXA Brand At AXA, we have decided to strengthen our brand strategy by adopting a new signature: redefining / standards By addressing the major problem in our market credibility this signature reflects our determination to become the preferred brand of our clients. We undertook an in-depth analysis which allowed us to understand that the notion of preference was totally related to the trust granted to various names in insurance and financial services. The level of trust is very inadequate today, regardless of the brand considered. This is because the perception of consumers is that we are all evolving in "a world of promises." And this is what we have to redefine.

Beyond the promises... the proof We don't want to make promises any more. Instead, we want to demonstrate our ability to respond to client needs with real and tangible proof and, in so doing, to establish an authentic relationship of trust with our clients. Redefining is the key commitment of our new signature. It means that when we speak, it is with the aim of redefining the benefits that consumers have the right to expect from financial services and insurance. Whatever the subject, our signature is our commitment to redefine it and improve it. We are thereby responding to client expectations and, by the same token, we are becoming credible by demonstrating our respect for them built on confidence. 3 Core Attitudes to redefine our business: attentive, reliable and available These are the three attitudes that clients most expect from an insurance and financial services company in exchange for their vote of confidence. These three attitudes stood out from the others in the consumer research we conducted across markets, regardless of their level of maturity. They are at the heart of our actions and our commitments to clients. A simple and clear style We avoid clichs. We don't run ads that show people or families living in a perfect virtual world, always smiling and as happy as can be. The people we show look like the people you come into contact with every day. Totally anchored in the real life of our clients, our communications are simple and direct. We don't deny the real problems, which reinforces our credibility. A symbol of change for AXA: the switch

By using the Switch, which is the red diagonal line of the AXA logo, we have created a strong graphic signature that reinforces consumer awareness of our brand. With this Switch, the form serves the substance and the substance serves the form. The Switch becomes the symbol of change for AXA, both in terms of its discourse and its expression in advertising. More than a simple graphic code, it becomes the very incarnation of our real difference. An adaptable signature

Because it is flexible, our signature can be adapted for use in our various markets, products, services.... Some examples: redefining / life insurance, redefining / simplicity, redefining / loyalty. The local adaptation of this signature will be done in close collaboration with our subsidiaries and will be validated via consumer testing. Naturally, this process will be carried out in tandem with our desire to adapt our products and services to client needs. This approach increases our credibility a little more. Accordingly, it constitutes another major strength in our quest to become the preferred brand!

Bharti AXA Life Insurance Co. Ltd. is a joint venture between Bharti Enterprises and AXA Group.

Home : Finance : Insurance : Companies : Bharti AXA Life Insurance

Bharti AXA Life Insurance

Bharti AXA Life Insurance Co. Ltd. is a joint venture between Bharti - AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. It also has operations in Australia, New Zealand, Hong Kong, Singapore, Indonesia, Philippines, Thailand, China, India and Malaysia.

Bharti AXA Life Insurance has a 74% stake from Bharti and 26% stake of AXA in the joint venture. In December 2006, the Company launched its operations in India. At present, it has more than 5200 employees working over 12 states in the country. With the continuous expansion, Bharti AXA Life Insurance is making itself proactive to cater to insurance and wealth management needs of people. Given below is the list of the insurance plans and financial solutions provided by Bharti AXA Life Insurance:

Insurance Plans Individual Plans

y y y y y y y y y y Bharti AXA Bright Stars Bharti AXA Spot Suraksha Bharti AXA Dream Life Pension Bharti AXA Aspire Life Bharti AXA Invest Confident Bharti AXA Wealth Confident Bharti AXA Future Confident Bharti AXA Future Confident II Bharti AXA Save Confident Bharti AXA Secure Confident

Group Plans
Bharti AXA Mortgage Credit Shield Bharti AXA Life Credit Shield Bharti AXA Life Shield Bharti AXA Swasthya Sanjeevani Bharti AXA Sanjeevani

Insurance Companies
y y y y y y y y y y y y Aviva Life Insurance India Bajaj Allianz Birla Sun Life Insurance HDFC Life Insurance ICICI Prudential ING Vysya Life Insurance Kotak Mahindra Old Mutual LIC Max New York Life Insurance MetLife India Insurance Reliance Life Insurance SBI Life Insurance

y y y y y y y y y y y y y y y y y y y y y y y y y

Shriram Life Insurance Tata AIG Life Insurance Agriculture Insurance Co of India Apollo DKV Insurance Cholamandalam MS General HDFC Ergo General Insurance ICICI Lombard General Insurance IFFCO Tokio General Insurance National Insurance Company Ltd New India Assurance Oriental Insurance Company Reliance General Insurance Royal Sundaram Alliance Insurance Shriram General Insurance Co Ltd Tata AIG General Insurance United India Insurance Universal Sompo Bharti AXA Life Insurance Canara HSBC OBC DLF Pramerica Life Insurance Future Generali Life Insurance IDBI Fortis Life Insurance Religare Life Insurance Sahara India Life Insurance Star Union Dai-ichi Life Insurance

General Insurance
y y y y y y y y y y y Health Insurance Home Insurance Motor Insurance Travel Insurance Life Insurance in India Endowment Policy Group Insurance Joint Life Insurance Policy Loan Cover Term Policy Money Back Policy Pension Plan

y y y

Term Life Insurance Policy Unit Linked Insurance Plans Whole Life Insurance Policy

Top Insurance Companies

y y y y y y y y y y y y y y y y y y y y y y y y y y y GIC AMP Sanmar Aviva Life Bajaj Allianz Bharti AXA Birla Sun Life Canara HSBC OBC Citibank Travel Insurance Citifinancial Auto Insurance GE Money HDFC Life Insurance ICICI Insurance Co. ICICI Insurance Schemes ICICI Prudential ICICI Lombard ICICI Life Insurance ING Vysya Kotak Mahindra Max New York Metlife Reliance General Insurance Reliance Life Reliance Standard Life Royal Sundaram Sahara Life SBI Life Shriram Life

Tata AIG