Indian asset management company 360 ONE Asset, through its managed funds, has agreed to acquire a 15% stake in Bharti AXA Life Insurance, pending regulatory approval.
Bharti AXA Life Insurance, a fully owned subsidiary of Bharti Enterprises, offers life insurance solutions in India.
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A press release from the company said the latest infusion will accelerate its growth path, boost its market share and open “new avenues for innovation”.
It will also expedite the Indian life insurer’s plans to improve its products and bolster its distribution network.
Bharti AXA Life Insurance MD and CEO Parag Raja said: “This investment underscores the strength of our business model, commitment to long-term growth and our vision of redefining life insurance in India.
“With this partnership, we aim to further accelerate innovation, enhance our product offerings, solidify our service experience and further deepen our market presence. Together, we are poised to drive sustainable growth and create lasting value for both our customers and stakeholders.”
360 ONE Asset venture capital and private equity head and CIO Sameer Nath stated: “The company has the right mix of product innovation, technology and operational efficiency to execute successfully in the large and growing life insurance sector. We are equally excited to collaborate with Bharti, which has a market-leading track record of scaling multiple businesses with the highest standards of corporate governance.
“Our investment in Bharti AXA builds on our experience in financial services and is a testament of our conviction in IRDAI’s vision of ‘Insurance for All’ by 2047.”
In November 2024, Bharti AXA Life Insurance entered a bancassurance alliance with AU Small Finance Bank to provide its life insurance products and financial security solutions to the bank’s customers.
In 2023, Bharti Life Ventures bought French insurance company AXA’s 49% stake in their joint venture, thereby gaining sole ownership of Bharti AXA Life Insurance.
