CCI approves acquisition of General Insurance Business of Bharti AXA by ICICI Lombard

The Competition Commission of India (CCI) has approved the acquisition of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited (ICICI Lombard) under Section 31(1) of the Competition Act, 2002.
Bharti AXA is a general insurance company registered with the IRDAI and is a joint venture held by Bharti General Ventures Private Limited (51%) and Societe Beaujon (49%).
The merger would result in an entity with a combined annual premium of Rs 16,447 crore and a market share of nearly 8.7%.