New Delhi, Feb 17 (PTI) 360 ONE Asset, formerly IIFL Asset Management Limited, will acquire a 15-per cent stake in Bharti AXA Life Insurance through its funds to strengthen the insurer's growth trajectory, unlock new avenues for innovation and enhance its market share.

Bharti AXA Life Insurance, a wholly-owned entity of Bharti, has been at the forefront of delivering innovative life insurance solutions while increasing its footprint across India.

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The investment by 360 ONE Asset will further accelerate Bharti AXA's plans to enhance its product offerings and strengthen its distribution network to serve the dynamic and evolving needs of the consumer, a joint statement said on Monday.

The transaction, which is subject to regulatory approvals, marks a significant milestone for Bharti AXA Life Insurance as it continues to build on its strong foundation and customer-centric approach, the statement said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)