ICICI Lombard completed the acquisition of Bharti AXA General Insurance for $606m.

ICICI Lombard General Insurance, a general insurance company in India, completed the acquisition of Bharti AXA General Insurance, a joint venture between Bharti and Axa that operates in India and offers general insurance products to retail and commercial clients, for $606m. "The proposed transaction provides a meaningful opportunity for ICICI Lombard to consolidate its market leading position in the non-life insurance sector, becoming the third largest non-life insurer. The combined entity shall have a market share of about 8.7% on pro-forma basis," ICICI Lombard. On November 2, 2020, the Competition Commission of India has approved the acquisition.