Insurance Sector Potential Catches Axa Group Fancy

The proposed opening up of the country's insurance market has caught the attention of the Axa group, the third largest insurance player globally.

"Given the huge potential the market holds, it has to be of interest to all. Margins at home (US and UK) are being eroded and we have to look to new outlets for business growth," David Garret, director, (customer service), Axa Sun Life, UK, said here yesterday.

"Though I am not privy to specific details, I am sure that strategies to enter India are being put together at the Axa headquarters in Paris," he added.

The Axa group, which manages over