Business Standard

Bharti Axa

Bharti to acquire JV partner AXA's 49% stake in Bharti AXA Life Insurance

Bharti Group on Wednesday said it has entered into a binding agreement with its joint venture partner AXA to acquire its 49 per cent stake in Bharti AXA Life Insurance. Post transaction, Bharti Life Ventures Private Limited (BLVPL), the holding company of Bharti AXA Life Insurance Company, will own 100 per cent stake in the life insurer. Currently, France-based AXA owns 49 per cent stake in the joint venture with Bharti. The transaction is subject to receipt of requisite regulatory approvals, Bharti Group said in a statement. Pursuant to the two parties' decision to merge Bharti AXA General Insurance with ICICI Lombard in 2020, and the subsequent exit of AXA from the shareholding of ICICI Lombard, BLVPL has now entered into an agreement to acquire AXA's 49 per cent shareholding and fully own the company, it said. Bharti's intention is to ensure that the life insurance business continues to serve the Indian market and, in this regard, it is engaging with other strategic and financi

Bharti to acquire JV partner AXA's 49% stake in Bharti AXA Life Insurance
Updated On : 11 Oct 2023 | 11:33 PM IST

Bharti AXA-Unity Bank in bancassurance tie-up to tap 1.5 mn customers

Through this alliance, Bharti AXA Life's entire suite of life insurance plans, including protection, savings, investment, and retirement products, will be offered to the customers across 17 states

Bharti AXA-Unity Bank in bancassurance tie-up to tap 1.5 mn customers
Updated On : 28 Feb 2023 | 10:27 PM IST

Shivalik SFB raises Rs 111 crore from venture capital firms, Bharti AXA

Shivalik Small Finance Bank on Wednesday said it has raised Rs 111 crore from two global venture capital firms and Bharti AXA Life Insurance. The two global venture capital firms that participated in the funding round are Accel and Quona Capital. The bank plans to use the funds to enhance its tech stack, strengthen team, and deepen partnerships as it moves to become the go-to bank for Indian MSMEs, it said. The Noida-based bank is the first to have transitioned from an urban cooperative bank with 23 years of experience in offering retail banking products and services. The bank has over 5.6 lakh customers and operates through 46 branches and 21 exclusive Business Correspondent branches across northern India. We are on a promising track of growth-focused tech-driven innovations and strategic partnerships in the financial services space. This investment will help us accelerate our growth as we look to leverage digital banking adoption by small business and retail customers, Anshul Sw

Shivalik SFB raises Rs 111 crore from venture capital firms, Bharti AXA
Updated On : 02 Nov 2022 | 4:18 PM IST

Bharti Axa Life, Accel infuse over Rs 111 cr as equity in Shivalik SFB

The SFB, an urban coop bank earlier, has a large presence in UP and MP; It has over 560,000 unique customers and runs 46 branches and 21 exclusive Business Correspondent Branches across northern India

Bharti Axa Life, Accel infuse over Rs 111 cr as equity in Shivalik SFB
Updated On : 02 Nov 2022 | 3:47 PM IST

Insurance Gazette: What lies ahead of insurers in post-pandemic world

Having emerged from the pandemic largely unscathed, the sector is set to benefit from an unprecedented pick-up in demand. Where it goes from here, however, depends on its ability to innovate

Insurance Gazette: What lies ahead of insurers in post-pandemic world
Updated On : 14 Dec 2021 | 6:10 AM IST

Bharti AXA Life posts 33% growth in weighted new biz premium in H1FY22

The insurer's asset under management witnessed a strong growth of 28 per cent and has doubled over the past three years

Bharti AXA Life posts 33% growth in weighted new biz premium in H1FY22
Updated On : 29 Nov 2021 | 1:38 PM IST

Nifty top 18,000 pts a day after IMF's bullish economic forecasts for India

The Nifty50 closed at 18,162, up 170 points, or nearly 1%, extending its year-to-date gains to 30%

Nifty top 18,000 pts a day after IMF's bullish economic forecasts for India
Updated On : 14 Oct 2021 | 1:21 AM IST

ICICI Lombard ceases to be ICICI Bank subsidiary post Bharti AXA merger

ICICI Bank on Thursday said ICICI Lombard General Insurance has ceased to be its subsidiary, as shareholding of the bank has come down to 48 per cent after the merger of Bharti AXA with the insurer.

ICICI Lombard ceases to be ICICI Bank subsidiary post Bharti AXA merger
Updated On : 09 Sep 2021 | 8:42 PM IST

Bharti AXA Life premium income rises 4.3% to Rs 2,281 crore in FY21

Renewal premium grew by a healthy 10 per cent in 2020-21

Bharti AXA Life premium income rises 4.3% to Rs 2,281 crore in FY21
Updated On : 28 Jun 2021 | 6:13 PM IST

Bharti AXA Life, Fincare SFB join hands for bancassurance partnership

Bharti Axa Life and Fincare Small Finance Bank have joined hands for a bancassurance partnership under which the bank will sell insurance policies to its customers.

Bharti AXA Life, Fincare SFB join hands for bancassurance partnership
Updated On : 07 Apr 2021 | 9:38 PM IST

Bharti AXA Life boosts protection cover segment to expand footprint

The firm has enriched the protection cover segment with the benefits of 'Quit Smoking' and 'Stay Fit' in its life cover solution Bharti AXA Life Flexi Term Pro

Bharti AXA Life boosts protection cover segment to expand footprint
Updated On : 25 Feb 2021 | 5:53 PM IST

Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal

Insurance Regulatory and Development Authority of India (Irdai) on Friday gave in-principle approval for the merger of Bharti AXA General with ICICI Lombard. ICICI Lombard is progressing applications for receipt of requisite approvals from other concerned regulators for the transaction, the insurance company said in a regulatory filing. Upon closing of the proposed transaction, the consolidated entity will have a market share of about 8.7 per cent on a pro forma basis in the non-life business, it added. The proposed transaction is expected to result in value creation for all stakeholders through meaningful revenue and operational synergies, it said. "Further, policyholders should benefit from an enhanced product suite and deeper customer connect touchpoints," the company said, adding the employees of the combined business will also benefit via greater opportunities across functions and geographies. Marking a major consolidation move in the insurance space, the proposed deal was ..

Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal
Updated On : 27 Nov 2020 | 9:32 PM IST

ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector

Combined entity will be third-largest non-life insurer

ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector
Updated On : 25 Aug 2020 | 1:09 AM IST

Street finds discomfort in ICICI Lombard-Bharti Axa merger deal

Bharti Axa's weak underwriting and high combined ratio are earnings dilutive, while valuations are on the higher side

Street finds discomfort in ICICI Lombard-Bharti Axa merger deal
Updated On : 24 Aug 2020 | 10:35 PM IST

In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance

In a share swap deal, non-life insurer ICICI Lombard General Insurance Company will acquire the business of Bharti AXA General Insurance Company Ltd

In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance
Updated On : 22 Aug 2020 | 3:19 PM IST

Bharti AXA, ICICI Lombard ink definitive pact to merge non-life businesses

The combined entity, with an expected market share of 8.7 per cent in the non-life business, would be the third-largest non-life insurer in the general insurance business

Bharti AXA, ICICI Lombard ink definitive pact to merge non-life businesses
Updated On : 22 Aug 2020 | 9:38 AM IST

ICICI Lombard eyes Bharti AXA General Insurance in Rs 2,800-crore deal

Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance

ICICI Lombard eyes Bharti AXA General Insurance in Rs 2,800-crore deal
Updated On : 30 Jul 2020 | 12:59 AM IST

Bharti AXA gets Rs 800 cr crop insurance mandate from Maharashtra, K'taka

Bharti AXA General Insurance said it has received Rs 800 crore worth crop insurance mandate from Maharashtra and Karnataka governments to insure farmers in both the states under the PMFBY

Bharti AXA gets Rs 800 cr crop insurance mandate from Maharashtra, K'taka
Updated On : 23 Jul 2020 | 4:19 PM IST

Bharti Axa General Insurance premium income up 38% to Rs 3,157 cr in FY20

Commercial lines segment focused on SME and MSME to grow by 49% at Rs 430 crore in the year ended March 31 against Rs 289 crore in the corresponding fiscal a year earlier

Bharti Axa General Insurance premium income up 38% to Rs 3,157 cr in FY20
Updated On : 15 Jun 2020 | 3:24 PM IST

AXA moots mass insurance scheme for loss of income during pandemic lockdown

The insurance cover can guarantee a regular pay-out for a specific time frame to these affected individuals

AXA moots mass insurance scheme for loss of income during pandemic lockdown
Updated On : 19 Apr 2020 | 3:24 PM IST