The government has already approved AXA’s raising of stake in Bharti AXA Life for Rs 858.6 crore
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New Delhi: French insurer AXA has increased its stake from 26 per cent to 49 per cent in its life and general insurance joint-ventures with Bharti Enterprises: Bharti AXA Life Insurance and Bharti AXA General Insurance.
The government has already approved AXA’s raising of stake in Bharti AXA Life for Rs 858.6 crore and that in Bharti AXA GI for Rs 431.40 crore. “This transaction confirms AXA’s long-term commitment towards the Indian insurance market and is another step in our development in Asia. India is one of the most dynamic insurance markets in the world and we remain fully confident in the capacity of our joint-ventures,” said Jean-Louis Laurent Josi, CEO of AXA Asia.
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( Source : deccan chronicle )
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