In a significant move within the Indian life insurance industry, 360 ONE Asset has announced the acquisition of a 15 per cent stake in Bharti AXA Life Insurance.
This strategic investment, pending regulatory approvals, is through funds managed by 360 ONE Asset and is expected to enhance Bharti AXA Life’s growth trajectory, foster innovation, and expand its market presence. The deal value of the investment has however not been disclosed.
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Parag Raja, Managing Director and CEO of Bharti AXA Life Insurance, expressed enthusiasm about the partnership, stating, “We are delighted to welcome 360 ONE Asset as an investor in Bharti AXA Life Insurance. This investment underscores the strength of our business model, commitment to long-term growth, and our vision of redefining life insurance in India.” Raja emphasized that the collaboration aims to accelerate innovation, enrich product offerings, and deepen market penetration, ultimately delivering sustainable growth and value to customers and stakeholders.
Echoing this sentiment, Sameer Nath, Chief Investment Officer and Head of Venture Capital and Private Equity at 360 ONE Asset, said, “We are delighted to back Bharti AXA’s stellar management team in the next phase of their growth journey. The company has the right mix of product innovation, technology, and operational efficiency to execute successfully in the large and growing life insurance sector.” Nath highlighted that the investment aligns with 360 ONE Asset’s expertise in financial services and reflects confidence in the Insurance Regulatory and Development Authority of India’s (IRDAI) vision of “Insurance for All” by 2047.
This development follows a significant restructuring in March 2024, when Bharti Life Ventures Private Limited (BLVPL) acquired AXA’s 49% stake in Bharti AXA Life Insurance, thereby gaining full ownership of the company. BLVPL is equally owned by Bharti Enterprises Holdings Private Limited and Bharti Overseas Private Limited, entities fully controlled by the Mittal family. The infusion of capital from 360 ONE Asset is expected to further accelerate Bharti AXA Life’s plans to enhance its product portfolio and strengthen its distribution network, catering to the evolving needs of consumers in the dynamic Indian market.
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The transaction is subject to necessary regulatory approvals and is anticipated to be a pivotal step in Bharti AXA Life Insurance’s mission to redefine the life insurance landscape in India.