Home / Companies / News / ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector

ICICI Lombard-Bharti AXA deal seen a leg-up for bancassurance sector

Combined entity will be third-largest non-life insurer

Premium

After the merger, Bharti AXA will hold 7.3 per cent in ICICI Lombard in a 51:49 ratio | Photo: Shutterstock

4 min read Last Updated : Aug 25 2020 | 1:09 AM IST

ICICI Lombard’s deal with Bharti AXA General Insurance is expected to increase the market share of the company in the motor insurance segment. It will also enhance its business through the bancassurance and corporate agency tie-ups that Bharti AXA had formed in the recent past.

Currently, ICICI Lombard has around 10 per cent market share in the motor insurance business. After the merger, it will command 12 per cent market share. Furthermore, the consolidated entity will have a market share of 8.7 per cent in the non-life business, making it the third-largest non-life insurer in the general insurance business. The

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in