French insurer AXA has increased its stake from 26% to 49% in its life and general insurance joint-ventures (JVs) in India, Bharti AXA Life Insurance Co and Bharti AXA General Insurance Co.

The acquisition boosts AXA’s existing partnership with Bharti in India, and demonstrates the commitment of both parties to further develop their operations in the country.

During the fiscal year 2014-15, Bharti AXA Life recorded INR4.7bn (€70m) of new business collected premiums, a yearly growth of 28% on average over the past three years.

AXA Asia CEO Jean-Louis Laurent Josi, said: "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 to continue building upon and developing our operations as an innovative and customer-focused insurer to offer services and products of high quality to our customers."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.