Bharti Enterprises Limited is in advanced talks with SBI Life Insurance Company Limited (NSEI:SBILIFE) and some other insurers to sell its now wholly owned life insurance venture Bharti AXA Life Insurance Company Limited, people aware of the negotiations told ET. The move comes after Bharti Group in October 2023 announced plans to buy out its joint venture partner AXA Group?s 49% stake in the life insurance business. ?After acquiring the business from AXA, Bharti has been looking to exit the insurance business and focus on telecom,?

one of the people cited above said. ?After selling the general insurance business to ICICI Lombard by way of merger, it has been looking to sell the life insurance business entirely.? There is no clarity on whether the deal will go through, people cited above said.

Spokespersons of Bharti declined to comment while SBI Life said it will not comment on market speculation.