RIL-AXA deal brings Ambani brothers into direct competition

Nearly a year after scrapping the non-compete agreement between them, the Ambani brothers today came into direct competition with each other with the elder sibling Mukesh-led group's entry into the insurance business. Younger brother Anil-led group's Reliance Life Insurance and Reliance General Insurance are already among the leading private sector players in their respective businesses.The two companies already compete with Bharti AXA Life Insurance and Bharti AXA General Insurance, in which Mukesh- led Reliance Industries Limited (RIL) group has acquired a majority stake from Sunil Mittal-led Bharti Enterprises group.

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