Magazine date:
Feb 2015 The Bharti Group announces that the French insurer AXA will increase its stakes to 49% in the companies jointly held by both entities.
Thus, the French group takes advantage of the newly passed law that authorizes foreign investors to hold 49% (against 26% previously) of the capital of Indian insurance companies.
As a reminder, the law on foreign investments in the insurance sector is pending approval of the president. It has been approved by parliament after a 7-year waiting period.