Bharti Group and its partner AXA have agreed to buy the latter's 49 percent stake in Bharti AXA Life Insurance.
According to a press statement, Bharti Life Ventures, the group's holding company for Bharti AXA Life Insurance, would become the sole owner of the life insurance following the stake sale.
The transaction, which is slated to close in December 2023, is subject to regulatory approvals.
Prior to this, the French multinational insurer had exited its other joint venture Bharti AXA General Insurance, as a part of the latter’s merger with ICICI Lombard General in 2020.
