a joint venture between Bharti Enterprises and AXA Asia-Pacific Holdings, today said it will infuse Rs 450 crore capital this fiscal and is open to off-loading a small portion of its stake to a bank as a part of a distribution tie-up.
"We are planning to infuse Rs 450-crore more by end-this fiscal," Bharti AXA CEO, Glenn Williams, told reporters while unveiling the insurance company's new brand positioning here.
The company is also in talks with several banks for bancassurance which would be either through an equity dilution or a pure distribution tie-up.
"We are in talks with several banks and are open to both options," he added.
Bharti AXA, which gets 80-90 per cent of its revenue from unit-linked products, is planning to focus more on traditional products.
"We plan to focus more on traditional products going forward," he said. The share of unit-linked products could therefore reduce to around 60 per cent, he said.
The insurance company has lined-up six traditional and about four products by March 2011, he said.
Bharti AXA's premium collection till August was Rs 320-crore, which is expected to rise to Rs 800-900-crore this year, Williams said.
The company, which is eyeing break-even by 2015, aims to break into the top 10 insurers club in India in five-years, he said.
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