The AXA effect!

IIPM PUBLICATION

After storming the telecom sector, Bharti Group decided to test the waters of the booming insurance sector in India. In August 2005, Bharti formed a joint venture with AXA Asia Pacific Holdings Limited to form Bharti AXA Life Insurance Company Limited. As part of the agreement, Bharti holds a 74% equity stake in the JV, while the rest is held by AXA. Though the company was formed in 2005, it kick-started its operations in August 2006 with the opening up of the first office in Hyderabad. When compared to its competitors like LIC and ICICI Prudential, Bharti AXA can definitely be termed as a late entrant in the insurance sector. Sunil Bharti Mittal, Chairman and Group Managing Director, Bharti Enterprises, commented to the media, “The insurance sector in India provides a mega opportunity for private players like us.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative