Magazine date:
Jul 2011 The insurer AXA has replaced its partner Bharti, with which it has collaborated in life and non life insurance, by Reliance, another large Indian group. Reliance has taken over the entire stocks of Bharti in both insurance subsidiaries.
AXA remains shareholder in the latter at 26% with the possibility of increasing its engagement to 50% if the Indian law authorizes it one day. Bharti Axa Life posted a premiums volume of 174.9 million USD for the past year, while Bharti Axa General Insurance (non life) totalled 121.9 million USD over the same period.