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.
