Bharti AXA General Insurance Company Ltd. is planning on a capital infusion of Rs.100 crore. The Company is on a roll and has announced that it has achieved the Rs.500 crore landmark in Gross Written Premium (GWP).
In an interview, Dr. Amarnath Ananthanarayanan, CEO, Bharti AXA General Insurance said, “We are extremely excited about reaching a new milestone in such a short span of time. The company is taking a series of measures focusing on profitable growth, and we expect to break even by 2012-2013.Our employees, partners and stakeholders have worked tirelessly and passionately to help us carve out a success story”.
Bharti AXA General Insurance Company Ltd. is a joint venture between Bharti which is a leading business conglomerate with interests in Telecom sector, Retail etc; and AXA a leader in Wealth management and Financial protection. Bharti group owns 76% stake and the remaining 24% are held by AXA. The company was incorporated in 2007 and is a fairly new entrant in the insurance sector.
The insurance company has a basket of products ranging from health insurance policy to motor to personal accident cover in the retail space. Apart from this, Bharti AXA General Insurance also offers commercial insurance and rural insurance products. Dr. Ananthanarayanan also mentioned that this year the company plans to focus on retail and are looking to grow their portfolio in motor and health insurance. The additional capital infusion of Rs.100 crore is sure to give its interests in the insurance sector a massive boost.
