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The Competitors Fee of India (CCI) has authorised the Bharti Life Ventures proposal to amass French insurer AXA’s 49% stake of their life insurance coverage three way partnership (JV).
Upon completion of the deal, which was introduced final month, Bharti Life Ventures could have a 100% stake in Bharti AXA Life Insurance coverage Firm, which has been collectively run by the businesses since 2006.
At present, Bharti Life Ventures owns a 51% stake in Bharti AXA Life Insurance coverage Firm.
After the completion of the deal, Bharti is planning to collaborate with numerous different strategic and monetary buyers to broaden the enterprise.
Bharti AXA at the moment has greater than 250 places of work in India. It gives cash and need-based life insurance coverage merchandise for people and teams.
In September 2023, Bharti AXA Life Insurance coverage and PolicyBazaar teamed as much as launch the Bharti AXA Life Wealth Maximizer, a unit-linked, non-participating particular person life insurance coverage plan.
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Commenting on the product, Bharti AXA Life Insurance coverage advertising and marketing, digital enterprise and on-line gross sales head and chief buyer officer Nitin Mehta stated: “Bharti AXA Life Wealth Maximizer has been created with advantages beforehand unavailable in any ULIP plan, to assist our valued clients realise their monetary targets, which regularly change with time and circumstances.”
Bharti and AXA established two ventures, Bharti AXA Life Insurance coverage and Bharti AXA Normal Insurance coverage, in 2006. Bharti owns a 74% stake in every enterprise.
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