Paytm to File for New License for General Insurance

Paytm

Digital payments and financial services company Paytm is reportedly planning to get a new general insurance license with a fresh application.

As per the company’s exchange filing, Paytm Insuretech Private Limited, the associate company of Paytm, has entered into a share purchase agreement to acquire 100 per cent of Raheja QBE General Insurance Company Limited. the

The company has proposed a majority shareholding with a 74% upfront equity stake.

“We intend to seek requisite approvals for a new general insurance license, wherein we hold a 74 per cent majority shareholding upfront,” the company said.

According to the Paytm, the company’s lending business has an annualized run rate of Rs 20,000 crore.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.