<h1>ICICI Lombard to Acquire Bharti AXA's General Insurance Business u/s 31(1) of Competition Act 2002.</h1> The Competition Commission of India has approved the acquisition of Bharti AXA General Insurance Company's general insurance business by ICICI Lombard General Insurance Company. This acquisition, conducted under Section 31(1) of the Competition Act, 2002, involves the transfer of Bharti AXA's entire general insurance business to ICICI Lombard through a demerger. In return, ICICI Lombard will issue shares to Bharti AXA. ICICI Lombard offers a wide range of general insurance products, while Bharti AXA, a joint venture, provides motor, health, travel, crop, and home insurance. A detailed order from the Commission will be issued subsequently.