Skip to content
Search

Latest Stories

Hinduja Group ‘eyeing Axa’s stake in Indian life insurance business’

Hinduja Group ‘eyeing Axa’s stake in Indian life insurance business’

HINDUJA Group is believed to have partnered with the Abu Dhabi Investment Authority (ADIA) to buy Axa’s stake in Bharti-Axa Life Insurance.

Investment bank Jefferies has been hired to advise on the potential transaction and the due diligence process is expected to be completed early next year, Moneycontrol reported.


The Paris-based Axa, which has a significant presence in western Europe, North America and the Inda-Pacific region, holds a 49 per cent stake in the life insurance joint venture with Bharti Group. Bharti has a controlling shareholding in the entity which operates across India with 254 offices, selling life insurance products to groups and individuals.

However, it is not clear which entity of the London-based Hinduja conglomerate - which has a wide range of businesses ranging from automobile to healthcare - is involved in the negotiations.

Hinduja Group entity IndusInd Bank was involved in the Indian life insurance business in the past and sold policies of various companies at its branches.

The ADIA already has a footprint in the sector as the sovereign wealth fund was an anchor investor in the initial public offerings of ICICI Lombard, SBI Life Insurance and PolicyBazaar. It has also invested in the IPO of Star Health Insurance whose issue closed on Thursday (2) with a 79 per cent subscription.

Hinduja Group, Bharti-Axa and ADIA have not commented on the proposed deal.

While the share of life insurance in total premium was 46.34 per cent globally in 2019, the case was different in India. Life insurance accounted for 74.94 per cent of the total insurance business in the country, according to the Insurance Regulatory and Development Authority of India.

However, insurance penetration - measured as the percentage of insurance premiums to GDP - still remains low in India at 2.82 per cent, although it is better than the non-insurance sector’s 0.95 per cent, according to the insurance sector regulator.

More For You

UK–Africa business summit 2025

UK–Africa business summit 2025

UK–Africa business summit 2025 highlights trade, technology and resilient partnerships

Highlights:

  • Dr Sudhir Ruparelia emphasised Uganda’s growing real estate, agriculture and tourism sectors.
  • Lord Dolar Popat called for closer Commonwealth ties between Africa, the UK and India.
  • Uganda’s ministers outlined regional integration, investment climate and agricultural transformation.
  • Spiritual leader Sant Trilochan Darshan Das Ji urged ethical entrepreneurship rooted in integrity.

The 15th edition of the UK–Africa Business Summit took place on Friday, 12 September at The Royal Horseguards Hotel & One Whitehall Place, bringing together senior government leaders, entrepreneurs, investors and diaspora stakeholders to strengthen trade and investment ties between the UK and African nations.

Keep ReadingShow less
Modi & Trump

Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.

Reuters

India, US to discuss trade issues after tariff hike

INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.

India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.

Keep ReadingShow less
Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less