Paytm to File for New License for General Insurance


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.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance 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.