From correspondents in Karnataka, India, 06:23 PM IST

Bharti AXA General Insurance Company Limited, a joint venture between Bharti Group and AXA Group today announced that the Company has been granted Certificate of Registration by the Insurance Regulatory Development Authority (IRDA). thus paving way for the commencement of business.

Mr. Milind Chalisgaonkar, Chief Executive Officer, Bharti AXA General Insurance said “We are delighted to receive the certificate of registration and shall shortly commence the business operations. We are confident of serving customers with our innovative products, strong distribution, personalized service and efficient claims settlement. We aim to be the preferred company in the General Insurance market within next few years.”

Bharti holds 74% and AXA holds 26% of equity interest in the company. The company is headquartered in Bangalore and will establish a pan-India business network with offices and partnerships.

Bharti Group and AXA Group had launched Bharti AXA Life Insurance Company in 2006. They also have a joint venture for asset management - Bharti AXA Investment Managers. Illustrating their commitment to the Indian market, AXA Group will contribute their domain expertise, global blueprint, best practices and technology, whereas Bharti Group will bring in its strong local market expertise and countrywide retail distribution network.

Source: Press Release Distribution via India PRwire