Axa's Indian joint venture stake increases approved

The Indian government has approved Axa's application to raise its foreign ownership to 49% from 26% in two insurers for undisclosed sums.

Axa has increased its stakes in Bharti Axa General and Bharti Axa Life; Bharti Enterprises will own the remaining 51% of shares in each entity.

There are likely to be many similar moves from foreign

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