Merger between Bharti AXA GI and ICICI Lombard

Bharti AXA General Insurance (Bharti AXA GI), the Indian non-life insurance subsidiary jointly owned by AXA (49%) and its Indian partner Bharti (51%), and ICICI Lombard General Insurance have completed their merger.

At the closing of this operation, AXA and Bharti will be receiving 35.8 million ICICI Lombard shares valued at 664 million EUR (785.071 million USD).

With a market share of 8.7%, the merged entity will be the third non-life insurer in India.