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Bharti Group, through its holding company Bharti Life Ventures Private Limited (BLVPL), has entered into a binding agreement to acquire AXA’s 49% stake in Bharti AXA Life Insurance Company, as reported on Wednesday. This strategic move will result in BLVPL owning a 100% stake in the company, subject to regulatory approval. The transaction is expected to be finalized by December 2023.
The acquisition demonstrates Bharti Group’s commitment to the Indian market and follows their previous business consolidation efforts. In 2020, Bharti AXA General Insurance merged with ICICI Lombard, and was subsequently sold to ICICI Lombard based on a share exchange ratio. This move marked AXA’s withdrawal from ICICI Lombard.
In line with its business scaling strategy, Bharti Group is also actively seeking strategic and financial investors. These efforts are aimed at further expanding their business operations. The complete acquisition of Bharti AXA Life Insurance is seen as another significant step in this direction.
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