Bharti AXA General is a joint venture between Bharti Enterprises and AXA Group. Bharti has a 74 per cent stake in this JV and the rest 26 per cent is with AXA. Currently, the company has over 40 branch offices across the country, and plans to expand to 70 branches by the end of 2009.
Speaking to reporters, Mr Amarnath Ananthanarayanan, CEO, said the current capital base is around Rs 230 crore, including Rs 40 crore infused last month. “Over the next five years, the company’s promoters will infuse around Rs 645 crore,” he said. He also added that the company was planning to add 500 agents during the current year.
From August 2008, the commencement of operations, to March 2009, the company has collected premium of Rs 32.3 crore and from March 2009 till now, another Rs 100 crore premium was collected. The company had set a target to close the current financial year with a little over Rs 150 crore, he said.